Temporary beef tariff relief aims to ease high grocery prices

President Donald Trump said Aug. 21 that he plans to temporarily lower tariffs on additional ground beef imports in an effort to reduce prices for consumers. The White House said an executive order would allow 300,000 more metric tons into the United States at lower tariffs for 90 days.

Beef prices remain near record highs as U.S. cattle inventories have fallen to their lowest level in 75 years. Drought, higher feed costs, reduced imports and plant closures have tightened supplies.

Cattle producers warned the plan could discourage rebuilding domestic herds, while economists and traders questioned whether the added imports would be large enough to significantly lower prices. Cattle futures fell to eight-month lows after the announcement.

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