Former US President Donald Trump has stated that American cattle ranchers are benefiting from tariffs imposed on imported cattle but need to reduce prices to encourage domestic beef consumption. Trump’s remarks follow earlier suggestions that his administration was considering importing Argentine beef to alleviate record-high consumer beef prices, a proposal that drew criticism from US ranchers. Recently, US farmers also experienced losses to Argentina in soybean sales to China.
Trump addressed the situation in a post on Truth Social, emphasising the positive impact of tariffs on the cattle industry. He specifically mentioned a 50 per cent tariff on Brazilian cattle. Trump stated that these tariffs are the primary reason cattle ranchers are experiencing improved conditions for the first time in decades.
He also stressed the importance of lowering prices to benefit consumers, noting that consumer considerations play a significant role in his decision-making process. Cattle and beef prices have risen sharply due to a prolonged drought that has damaged grazing land and increased feeding costs, leading ranchers to reduce their herds. The drought and subsequent herd reduction have contributed significantly to the increased prices faced by consumers.