The US President announced a 90-day waiver of import tariffs on beef.
According to the administration's statement, imported products should be sold at a price 25 percent lower than current market prices. It is expected that a corresponding executive order will be signed within the next two weeks. According to Steiner Consulting Group, imported beef is already trading at a significant discount. These measures are being taken against the backdrop of a 24 percent increase in beef prices in the U.S. since the beginning of the president's second term.
This initiative has sparked protests from representatives of the American livestock industry. The National Cattlemen's Beef Association (NCBA) and producers from Ohio, Missouri, Texas, and Minnesota have expressed dissatisfaction, calling the decision an obstacle to the recovery of livestock numbers. According to the NCBA leadership, government intervention and flooding the market with subsidized products sacrifice the long-term stability of the industry for the sake of short-term goals.
A number of senators also criticized the plan. Deb Fischer spoke out against weakening the protection of national producers' interests. John Barrasso emphasized a preference for American products, and Tim Sheehy noted that such actions hinder herd expansion and do not contribute to a sustainable reduction in prices.
The U.S. Department of Agriculture reports that the current livestock population is at its lowest level since the 1950s. The supply deficit is exacerbated by adverse weather conditions and drought, which affect more than 79 percent of the livestock in the 26 largest producing states. At the same time, U.S. beef imports already increased by 12 percent last year.