Where’s The Beef? Trump’s Hail Mary to bring beef prices down

by Dan Rather and Team Steady - Aug 24

The American economy is not in a good place. That is reportedly, supposedly, allegedly a major concern of the White House 71 days out from the midterms. But up to and including today, we’ve seen little evidence the president cares much for anyone who isn’t a megadonor or a relative.

But Americans, working Americans, many of whom still climb into their cars or catch a bus early each morning and don’t return home till dark, are in serious distress. That’s in large part because most of the promises made by Donald Trump weren’t kept.

So on Friday, he threw the masses a bone, literally, by announcing a proposal to temporarily cut tariffs on imported beef. But it’s an idea that is so half-baked that even his most ardent supporters are crying foul.

The American barbecue, a summer mainstay, is more expensive now than ever. The cost of a cookout’s centerpiece, the hamburger, is now almost $7 a pound. Ground beef, which accounts for half of all beef consumed in the United States, is up 24% since Trump took office.

The president’s approval ratings are dropping. The timing is not coincidental, especially so close to the midterms. But, as is so often the case with Trump, his proposal sounds plausible at first blush, but when you dig (not even very deep) you find harebrained plans, hypocrisy, and ulterior motives.

The crux of the beef problem is one of supply and demand.

A global beef shortage has driven up the price. The U.S. cattle herd size is at its smallest since the 1950s. Drought, low margins, the specter of disease, and increased costs for diesel and fertilizer have driven thousands of ranchers out of business. The U.S. is losing more than 21,000 cattle operators per year, according to the Cattlemen’s Association.

The Trump administration’s recent update to the dietary guidelines, encouraging people to “Eat Real Food” and prioritize protein sources including beef, is increasing demand, while the U.S. is already the world leader in beef consumption.

In a Friday social media post, Trump proposed a quick fix that won’t actually fix anything. In exchange for a 90-day moratorium on ground beef tariffs, a country or countries will export 300,000 tons of ground beef, which will then be sold in the U.S. at 25% below market price. Trump claims this scheme will help the struggling American beef industry.

Let’s start with the most obvious problems with this cockamamie plan.

Where is this meat coming from?

The president refused to say when asked directly. “I don’t want to say which countries, but there are a few countries,” he told reporters. That should be a red flag. Food safety is a big issue, especially with imported meat. In March, China rejected beef imports from Argentina because of the detection of a dangerous banned antibiotic. Argentina is on the list of possible exporters as Trump is a fan of the struggling country’s right-wing leader.

How can Trump guarantee the price will be 25% lower?

He can’t. Exporters do not control prices; retailers do.

Will the cheaper imports mean lower prices at the grocery store?

Probably not. The fresh ground meat available at the grocery store is almost always domestically produced. So this plan does not affect the cost of that meat. Imported ground beef is sold frozen and usually goes directly to fast-food restaurants. So chains like McDonald’s and Taco Bell will hypothetically pay the lower price for their beef. Whether they will pass the savings on to consumers is an open question.

If lifting tariffs will make beef cheaper, doesn’t that undercut Trump’s assertion that raising tariffs does not make products more expensive?

Yes. As has been stated a thousand times, tariffs raise prices.

How can flooding the market with cheaper ground beef help ranchers?

It can’t. They know it and are not happy about this idea of Trump’s. Ranchers and many of their representatives in Congress have been supporters of the president, but his latest ploy is pushing even the most loyal to push back.

Colin Woodall, CEO of the National Cattlemen’s Beef Association, said Trump’s move “sacrifices long-term stability for short term messaging.”

“I’ve advised President Trump against this course of action for a year because American ranchers have been struggling against the packer monopoly for decades, and this will further harm them – most of whom are MAGA Republicans,” Senator Tim Sheehy (R-MT) wrote on social media.

Rep. Thomas Massie (R-KY), who has been a Republican thorn in Trump’s side during his second term, took to social media. “What a slap in the face to American cattlemen & consumers. Worse than socialism! Dumping foreign beef in U.S. markets can temporarily lower prices but it won’t incentivize American farmers to raise more beef.”

Worse than socialism, you say?

Not sure it is worse, but it is a version of socialism.

After spending years lambasting socialism as a scourge of democracy — Trump has called it “the biggest threat to our nation, maybe since our founding” — he has more than embraced the political philosophy. Manipulating a market, as he is trying to do with ground beef, is just one example.

During the 2024 presidential campaign, when Vice President Kamala Harris said she would institute a ban on grocery store price gouging, Trump called it “Soviet style price controls.”

He has demanded stakes in private companies in exchange for grants and tax breaks. Intel and Nvidia are just two of the companies that have complied. Trump has proposed a temporary cap on credit card interest rates and has offered financial bailouts to American farmers to offset losses, many caused by his tariff-driven trade wars.

At his core, Trump is not a conservative who believes in smaller government. He is an opportunist who believes in whatever is best for him. And, although many of us regret having to say it about the President of the United States, he is a profound liar doing irreparable harm to our country. During the 2024 campaign, he promised to lower grocery prices on “Day One.” That was 579 days ago. Few, if any, Americans believe they are now spending less. On anything.