Connect with us

Hi, what are you looking for?

Economic Rule Financial News

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

Economic Rule Trading Tips

XRP price has come under intense pressure in the past few months as any signs of recovery met substantial resistance. Ripple token dropped to...

Economic Rule Trading Tips

The DAX Index has remained in a tight range in the past few months. This consolidation continued this week as top constituent companies like...

Economic Rule Financial News

Card-reading contact lenses, X-ray poker tables, trays of poker chips that read cards, hacked shuffling machines that predict hands. The technology alleged to have...

Economic Rule Trading Tips

The Reddit stock price popped by over 10% in the extended hours after the company published strong financial results and boosted its forward estimates....