Donald Trump announced the temporary opening of the U.S. market to additional beef imports for a three-month period, allowing up to 300,000 metric tons of product to enter without out-of-quota tariffs. The president stated that this beef would be sold at 25 percent below current market prices, as part of agreements secured with foreign exporters. A formal executive order will be signed within two weeks, according to a White House spokesperson. This measure applies only to lean beef trimmings for ground beef production. The average price of ground beef reached $6.89 per pound in July, up 10 percent from a year earlier and 57 percent from five years ago, while the U.S. cattle herd stands near its lowest level since the 1950s.
Source: Read the original article
