With 74 days remaining until the midterm elections and average retail ground-beef prices hovering near $7 per pound, President Trump said in a Truth Social post Friday morning that his administration will temporarily waive certain tariffs on ground-beef imports. The move follows our Monday report highlighting signs that consumers are balking at record beef prices, with demand destruction beginning to surface against a backdrop of household stress, including Walmart sales that missed estimates and dismal July retail-sales data.
"Today, I concluded a deal to substantially lower the price of ground beef for working American families. As everyone knows, under President Biden, beef prices soared at their fastest rate and the American beef herd fell to its smallest size in modern history," Trump wrote on Truth Social.
Trump continued, "As we work to rebuild this herd and help our ranchers, for the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out-of-quota tariff."
He concluded, "We have a commitment that this beef will be sold at 25 percent below current market prices. This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again."
The temporary import waiver appears intended to addre
