President Donald Trump pledges to lower beef prices

Một cửa hàng thịt bò tại Washington, DC, Mỹ. (Ảnh: AFP/TTXVN)

A beef shop in Washington, DC, USA. (Photo: AFP/TTXVN)

On October 17, US President Donald Trump said his administration is working to reduce domestic beef prices, as this commodity continues to set records due to scarce supply.

Speaking to reporters at the White House, Mr. Trump affirmed that the administration is dealing with the beef price issue and “may have reached a deal,” while admitting that current prices are “higher than desired” but will soon decrease in the near future.

Beef prices in the US have risen sharply due to the prolonged drought in the West, which has dried up pastures and increased the cost of raising cattle. As of early this year, the total US cattle herd was only 86.7 million head - the lowest level since 1951.

The Meat Institute, which represents meatpacking companies, said it needed more information about Mr. Trump’s plan. Under the previous administration of President Joe Biden, processors were accused of contributing to rising food prices. Last week, Tyson Foods and Cargill agreed to pay $87.5 million to settle a federal lawsuit over beef price manipulation, though both companies denied wrongdoing.

Processors like Tyson are now losing money because they have to pay higher prices for cattle amid limited supplies. The situation has been exacerbated by the USDA ’s temporary suspension of Mexican cattle imports to prevent disease outbreaks, as well as the Trump administration’s tariffs on Brazilian beef, which have slowed beef imports from that country.

Some US farmers have begun rebuilding their herds, but experts say it will take about two years for beef production to increase again. US Agriculture Secretary Brooke Rollins said the USDA will announce a plan to restore the herd in mid-October, but it will not include direct aid to farmers.

Source: https://vtv.vn/tong-thong-donald-trump-cam-ket-ha-gia-thit-bo-100251017143354978.htm