White House · Donald Trump · U.S. Treasury · Axios
The big picture: Beef shows how difficult it can be to quickly bring down prices when multiple forces are pushing
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Beef is the latest target in interventions aimed at bringing down costs:.
Key facts
- Ground beef averaged $6.89 a pound in July, about $3 more than before the pandemic
- Trump said Friday that he will temporarily waive tariffs on up to 300,000 metric tons of additional beef imports for 90 days, a period that would last through the midterms
- President Trump is reaching deeper into individual markets to try to ease consumer price strains
- The administration is under mounting pressure to deliver relief as affordability becomes a bigger political liability ahead of the midterms
Summary
President Trump is reaching deeper into individual markets to try to ease consumer price strains. The administration is under mounting pressure to deliver relief as affordability becomes a bigger political liability ahead of the midterms. The push is cutting against, and sometimes rolling back, pillars of Trump's economic agenda, including tariffs and favoring domestic producers. And the moves may offer limited relief, reflecting how difficult it is for presidents to broadly bring down prices. Trump said Friday that he will temporarily waive tariffs on up to 300,000 metric tons of additional beef imports for 90 days, a period that would last through the midterms.