Trump Announces a Tariff Deal Aimed at Lowering Beef Prices

Experts, however, cast doubt on whether boosting beef imports from Argentina will be effective at lowering the cost on Americans, saying that the boost in imports would make up too small a portion of the overall supply in the U.S. to have a significant impact. And the cattle industry has objected to such efforts in the past, expressing concerns that those moves would undermine producers within the U.S.

Colin Woodall—the CEO of the National Cattlemen’s Beef Association, a trade association for cattle farmers and ranchers—said in a statement on Friday that he was “disappointed” by Trump’s announcement.

“While America’s cattle producers share the goal of keeping groceries affordable for consumers, flooding the market with government-subsidized, below-market beef is not the way to rebuild the American cattle herd,” Woodall said. “We are already working to rebuild after years of ongoing drought, high input costs and other challenges that have reduced U.S. cattle numbers. Today’s announcement and other market interventions throw cold water on the prospect of herd expansion and sacrifices long-term stability for short term messaging.”