Trump's new beef plan just hit a wall in Texas [View all]
Texas ranchers are pushing back against President Donald Trump's proposal for the United States to purchase beef from Argentina in an effort to lower prices for American consumers.
"We would buy some beef from Argentina," Trump said Sunday aboard Air Force One, during a flight from Florida to Washington. "If we do that, that will bring our beef prices down."
Earlier in the week, Trump promised to address rising food costs as part of broader efforts to curb inflation. U.S. beef prices have surged due to a combination of drought, herd reductions, and a sharp drop in Mexican imports following outbreaks of screwworm-a flesh-eating pest that has devastated cattle herds. According to the U.S. Department of Labor, the beef and veal index rose 13.9 percent in the 12 months leading up to August. Prices for uncooked beef steaks jumped 16.6 percent over the same period.
Industry experts say high beef prices are unlikely to ease soon due to the long timeline required to rebuild cattle herds, along with import restrictions and tariffs on key suppliers such as Brazil.
https://www.msn.com/en-us/money/markets/trump-s-new-beef-plan-just-hit-a-wall-in-texas/ar-AA1OQnRc
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