Donald Trump is temporarily opening the U.S. market to additional beef imports over the next three months and will allow up to 300,000 metric tons of product to enter the country without being subject to out-of-quota tariffs.
“This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again,” Trump wrote in a Truth Social post on Friday.
“We have a commitment that this beef will be sold at 25 percent below current market prices.”
The president’s post did not name any companies that have made these commitments, nor did he mention who he had reached a deal with regarding import waivers, or if any importers would sell the meat at “below current market prices.”
“President Trump will formally sign an executive order to this effect within the next two weeks,” a spokesperson from the White House told Fortune in a statement. The statement added this will only apply to “lean beef trimmings for ground beef production.”
