Trump Announces Deal to Lower Ground Beef Prices Amid Rising Costs
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"Today, I concluded a deal to substantially lower the price of ground beef for working American families," Trump said in his post. "This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again."
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New York Post BusinessPresident Trump announced plans to lift tariffs on beef imports for 90 days as he attempts to crack down on soaring grocery bills.
Financial TimesTrump claims deal to cut beef import tariffs to help curb high prices Cattle futures fall after president says unnamed foreign suppliers will provide 25% discount for three months
Fortune“This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again,” Trump wrote in a Truth Social post on Friday.
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The current tariff quotas on beef, which existed prior to the Trump administration, place a tax of 4.4 cents per kilogram on a limited number of imports for each country.
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CNBCThe U.S. imposes tariffs on imported beef beyond a certain quota limit for individual countries.
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Beef prices in the U.S have soared in 2026 due to a reduction in the nation's cattle herd from years of drought, high feed costs and herd liquidation.
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Fortune“Beef prices are elevated because of supply shortages that began under the Biden administration,” the spokesperson said. “The American cattle herd size is at a multi-decade low, while domestic demand for beef continues to be high.”
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The nation's herd levels have fallen to a 75-year low. Getty Images In July, ground beef cost $6.89 a pound – a 10% jump from the previous year. Getty Images
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FortuneThe deal comes as ground beef prices approach $7 a pound. The average price reached $6.89 per pound in July, up about 10% from a year earlier and 57% from five years ago, according to the Federal Reserve Bank of St. Louis. The U.S. cattle herd, meanwhile, is near its lowest level since the 1950s.
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Trump’s efforts to ramp up imports have faced heated blowback from American ranchers and cattle groups, which argue they are already struggling to stay afloat amid tariffs and higher fuel prices, as many farmers use diesel for their machinery.
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FortuneThat makes Trump’s tariff policy particularly awkward for beef. The US needs more cattle and more beef, but the tariffs make imported beef more expensive. If domestic producers cannot immediately make up the difference, consumers absorb the higher prices.
3 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 CNBC CNBC has asked the White House which importers have committed to selling ground beef at below-market prices as a result of the tariff relief.
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02 New York Post Business A White House official told The Post that Trump will sign an executive order suspending the out-of-quota tariffs within the next two weeks.
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03 Fortune The president’s post did not name any companies that have made these commitments, nor did he mention who he had reached a deal with regarding import waivers, or if any importers would sell the meat at “below current market prices.”
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Sources (4)
- ft
- fortune
- cnbc
- nypost-biz