Connect with us

Hi, what are you looking for?

Major Financial PartnerMajor Financial Partner

Business

Trump’s Argentina beef import plan will harm U.S. ranchers, industry warns

The American cattle ranching industry is blasting President Donald Trump’s proposal to purchase beef from Argentina in an effort to lower supermarket beef prices.

“This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices,” Colin Woodall, CEO of the National Cattlemen’s Beef Association, said in a statement Monday.

Wyoming-based cattle operation Meriwether Farms addressed Trump directly in a social media post Monday.

“We love you and support you — but your suggestion to buy beef from Argentina to stabilize beef prices would be an absolute betrayal to the American cattle rancher,” the farm wrote on X.

By midday Tuesday, the post had already received 4 million views. A representative for Meriwether Farms did not immediately respond to a request for comment.

Trump floated purchasing beef from the South American nation Sunday aboard Air Force One to push down U.S. beef prices by increasing the overall supply.

‘We would buy some beef from Argentina,’ he told reporters, ‘If we do that, that will bring our beef prices down.’

Beef prices have hit record highs this year, according to data from the Bureau of Labor Statistics, fueled in part by depleted herd counts and steady demand from U.S. consumers.

This post appeared first on NBC NEWS

You May Also Like

Business

LendingTree CEO and founder Doug Lebda died in an all-terrain vehicle accident over the weekend, the online loaning platform said Monday. In a company...

Business

Thousands of U.S.-bound packages shipped by UPS are trapped at hubs across the country, unable to clear the maze of new customs requirements imposed...

Business

Customers of the athletic shoe company On have filed a class action lawsuit alleging that some of the brand’s sneakers squeak embarrassingly loudly when...

Business

Target said Thursday that it is eliminating about 1,800 corporate positions in an effort to streamline decision-making and accelerate initiatives to rebuild the flagging...