Now Reading: Trump suspends tariffs on 300,000 tonnes of imported beef
-
01
Trump suspends tariffs on 300,000 tonnes of imported beef
The Story in Brief
US President Donald Trump has announced a 90-day suspension of tariffs on up to 300,000 metric tonnes of imported ground beef to combat rising grocery prices and a severe cattle supply shortage. Ground beef sold for an average of $6.89 per pound in July, up 10% from a year earlier, as the US cattle herd fell to about 86.2 million animals, its smallest since the 1950s.
Existing tariff-rate quotas allow limited beef imports at 4.4 cents per kilogram, imports beyond those quotas face a 26.4% tariff. A White House official said Trump is expected to sign an executive order within two weeks. The administration has not disclosed which countries will supply the additional beef.
Trump blamed the previous Biden administration for the herd decline and said he remains committed to reducing beef prices by 25%. Ranchers have pushed back, arguing increased imports could hurt domestic producers. Rebuilding herds may take about two years, so the tariff suspension is unlikely to resolve the shortage immediately.
Indian Opinion Analysis
The US cattle herd at a 75-year low is the result of a multi-year drought, high feed costs, and a 2024 suspension of Mexican cattle imports due to screwworm. Mexico had supplied roughly 1 million cattle annually before the ban. Ranchers now face a dilemma: selling animals for slaughter to cash in on high prices shrinks breeding stock further. The 90-day window is too short for herd rebuilding, which typically requires two years. A more lasting solution would require rain, lower feed costs, and resumption of Mexican imports. Watch for the executive order in two weeks and which countries are named as suppliers.
Source: timesnownews.com
This story was synthesised by AI from the source linked above. Methodology and corrections.
