WASHINGTON — President Trump was set to sign two executive orders aimed at lowering beef prices for American consumers, according to published reports citing unamed White House officials.
One of the orders would temporarily reduce tariffs on beef imports by suspending the annual tariff-rate quota applied to beef exporting nations after beef imports to the U.S. reach a certain level.
The other order would direct the Small Business Administration to increase loans for U.S. cattle ranchers, The Wall Street Journal reported. The measure also would loosen protections for endangered wolves and suspend ear tag requirements, actions supported by ranchers.
The moves come as the average cost of ground beef hovers at around $7 a pound and as the size of the U.S. cattle herd has shrunk to its lowest level in 75 years.
The orders could be signed as early as today, the sources said.
Bloomberg News reports that the U.S. is expected to import a record amount of beef this year, citing Department of Agriculture data. In the year’s first quarter, major beef exporters to the United States were Brazil, Australia, and Canada, according to the USDA. The White House earlier increased Argentina's quota for beef shipments into the U.S.
