Trump takes major action to slash soaring beef prices for US consumers

President Donald Trump on Wednesday formally increased the amount of foreign beef that can enter the U.S. at a lower tariff rate by 300,000 metric tons, advancing an affordability push aimed at bringing down elevated ground beef prices. The temporary increase applies to lean beef trimmings under the U.S. beef tariff-rate quota and will be released in three 100,000 metric-ton tranches beginning Sept. 1, according to a White House proclamation. Trump said the move is intended to increase the supply of ground beef and lower prices for American consumers as the U.S. cattle herd remains near historic lows and domestic beef production is expected to decline this year. The proclamation puts into effect a policy Trump previewed last week, when he announced plans to allow up to 300,000 metric tons of additional foreign beef into the country as part of an effort to ease grocery costs. TRUMP ALLOWS 300,000 METRIC TONS OF TARIFF-FREE BEEF IMPORTS IN BID TO CUT PRICES, DRAWING RANCHER BACKLASH The formal action follows pushback from Republican lawmakers in cattle-producing states who have warned that increasing foreign beef imports could undercut ranchers working to rebuild the U.S. herd. The administration, however, says domestic supplies remain insufficient to meet demand at reasonable prices. The Department of Agriculture forecasts U.S. beef production will decline by about 4% this year compared with 2025, according to the proclamation. The White House attributed the supply pressure in part to restrictions on live cattle imports from Mexico aimed at preventing the spread of New World screwworm, as well as drought and wildfire conditions affecting cattle-producing regions. The U.S. cattle herd has fallen to its lowest level in 75 years, though USDA data cited by the administration suggests the herd began showing early signs of growth in July. TRUMP’S FOREIGN BEEF PUSH TO CUT GROCERY COSTS SPARKS GOP REVOLT FROM RANCHING COUNTRY The administration said the USDA forecasts domestic beef consumption will increase through the remainder of 2026, adding further pressure to supplies. The latest action follows a separate move in February that increased the 2026 quota for lean beef trimmings from Argentina by 80,000 metric tons. The new 300,000 metric ton increase does not affect that allocation and instead applies to "other countries or areas." The first 100,000 metric tons will be available from Sept. 1 through Sept. 30, followed by another 100,000 metric tons from Oct. 1 through Oct. 30. The final tranche will open Oct. 31 and remain available until the quota is filled or Nov. 30, whichever comes first. The administration is also tying the expanded quota to prices. CLICK HERE TO GET FOX BUSINESS ON THE GO The agriculture secretary and U.S. trade representative are directed to monitor whether beef entering under the additional quota is sold at prices 25% below the market price for lean beef trimmings. If that discount does not materialize, the officials must notify Trump, who could eliminate the remaining increase.