Ground beef prices are soaring. Trump’s fix has U.S. ranchers worried

With most Americans still feeling the pinch of persistent inflation, President Trump wants to make one pricey grocery staple cheaper. “Today, I concluded a deal to substantially lower the price of ground beef for working American families,” Trump said in a Truth Social post shared on Friday. In the deal, Trump says that the U.S. will exempt 300,000 metric tons of ground beef to be imported over the next 90 days from the out of quota tariff, a higher tax rate that applies to imports beyond a set limit. Trump also announced that the newly imported beef would be sold at 25% below market rate – a deal with few accompanying details, but one that appears to come from an agreement with overseas beef exporters. Trump is expected to issue an executive order on the plan to slash beef prices in the coming weeks, Politico reports. In July, the price of beef lingered around a record high, according to data from the U.S. Bureau of Labor Statistics. This spring, beef peaked at $6.92 per pound of ground chuck—up nearly a dollar per pound from 2025 and by almost $3 since 2020. In his announcement, Trump also blamed former President Joe Biden for beef’s current predicament, although voters ma…