President Trump Lifts Tariff Quota on Imported Beef for 90 Days to Relieve Price Stress

President Donald Trump announced today that import quotas on beef will be lifted for a period of 90-days in an effort to remove pricing stress on cattle and give U.S. ranchers an opportunity to restore herd head count.

The short-term effort is directed to lower consumer prices, while in the longer term the U.S. cattle industry undergoes market-based reforms to eliminate monopolistic industrial practices.

PRESIDENT TRUMP – “Today, I concluded a deal to substantially lower the price of ground beef for working American families. As everyone knows, under President Biden, beef prices soared at their fastest rate and the American beef herd fell to its smallest size in modern history. As we work to rebuild this herd and help our ranchers, for the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out of quota tariff. We have a commitment that this beef will be sold at 25 percent below current market prices. This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again. Thank you for your attention to this matter!” ~ President DONALD J. TRUMP

President Trump gave remarks about the issue during a tarmac presser en route to South Carolina. [PROMPTED]