Trump Eases Beef Tariffs to Combat Record-High Prices

President Trump has temporarily waived higher tariffs on ground beef imports to help lower prices for consumers who are facing historically high beef costs. The move, announced on Truth Social, will allow up to 300,000 metric tons of ground beef into the country for the next 90 days with 'no out-of-quota tariff.'

Ground beef prices have risen sharply in recent years, with an average cost of $6.89 per pound as of July, up 57% from five years ago, according to the Federal Reserve Bank of St. Louis. The U.S. Department of Agriculture has said that Mr. Trump's action will 'help address the affordability of beef' during a time of record-high consumer demand.

The cattle herd is under pressure due to worsening drought conditions, which are reducing the amount of pasture for cattle to graze. This has forced ranchers to turn to more costly feed and in some cases, cull their herds.