President Donald Trump announced Friday that the United States will suspend tariffs on up to 300,000 metric tons of imported beef over the next 90 days, a move aimed at curbing steep price increases for American consumers.
Trump claimed the imported beef will be sold at 25 percent below current market prices, though the mechanism for enforcing such pricing was not detailed. Ground beef cost an average of $6.89 per pound as of July, up 57 percent from five years ago, according to Federal Reserve Bank of St. Louis data. U.S. cattle herds have fallen to their lowest levels since the 1950s, constraining domestic supply.
The announcement follows the Department of Agriculture's decision in late July to resume cattle imports from Mexico, which shipped over one million head to the U.S. in 2024. Supply pressures have been compounded after the Elon Musk-led Department of Government Efficiency shuttered a USDA program, contributing to a resurgence of the North American Screwworm parasite.