

The 300,000 metric tons of beef that President Donald Trump announced he would import into the U.S. in order to lower beef prices have so far mostly failed to materialize, reports The New York Times. Meanwhile, beef prices have come down only slightly, by 1.9% between August and September, to an average of $6.79 per pound, up roughly 7.5% year-over-year.
And Trump has infuriated the U.S. cattle ranching industry. “It can't come at a worse time for ranchers as the herd is at a 50-year low, and they're trying to rebuild the herd,” said John Newton, the vice president of public policy and economic analysis at the American Farm Bureau Federation, in an August 24 interview. “And this takes away any economic incentives to invest and rebuild the herd when we're trying to lower cattle and beef prices.”
In August, Trump issued a proclamation allowing 300,000 metric tons of lean beef trimmings to enter the U.S. at a reduced tariff rate. The additional beef could be imported over 90 days, with up to 100,000 metric tons entering each month in September, October and November.
But, according to U.S. Customs and Border Protection data, only 37,486 metric tons of this beef entered the country in September, barely more than a third of the allowed amount. The Times says October has hardly shown an improvement, as just 21,937 metric tons entered through the October 19.
The U.S. imported 1.9 million metric tons of all kinds of beef last year, with the bulk coming from Australia, Canada, Brazil, Mexico and New Zealand.
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