RESOLVING THE LEDGER
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Topline President Donald Trump announced Friday he would allow a 90-day tariff exemption for some ground beef products, as he continues to log low approval ratings on his handling of the economy and cost of living—top concerns for voters in the 2026 midterm elections.
Trump said on Truth Social, “for the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out of quota tariff.”
He said the U.S. has “a commitment that this beef will be sold at 25 percent below current market prices.”
Additional details about the tariff relief, including what ground beef products it would apply to, were not immediately clear.
The announcement comes as polls consistently show Trump’s approval rating on the cost of living is underwater—a Financial Times/Focaldata poll released earlier this week found more than 53% of registered voters said they’re worse off financially during Trump’s second term.
The poll also found voters were more likely to say they trusted Democrats over Republicans to handle inflation and the cost of living.
Meanwhile, ground beef prices have soared to a record high, $6.89 a pound in July, amid a shortage of cattle.
$13.06. That’s how much Americans are paying per pound for ground beef, up from $11.88 last July and $10.86 in July 2024, according to the U.S. Bureau of Labor Statistics.
The Trump administration in May delayed a planned suspension of beef imports, amid concerns from some Republicans and ranchers who say that allowing more imports could hurt the already struggling industry. Ranchers reduced their herds during the pandemic as livestock prices plummeted, maintenance costs soared and drought dried up grasslands.
Among Trump’s other moves to lower beef prices, he signed an executive order earlier this year increasing some Argentine beef import quotas, angering some cattle ranchers and Republicans with rancher constituencies. The move raised the tariff-rate quota on Argentine beef by 80,000 metric tons. It applies only to lean beef trimmings, which are used to make ground beef.
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