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US to allow tariff-free ground beef imports for 90 days
The deal covers up to 300,000 tonnes of ground beef and includes a pledge to sell the product at 25% below market prices during the period.
President Donald Trump said the US will allow tariff-free imports of up to 300,000 tonnes of ground beef for the next 90 days, aiming to reduce prices for American consumers ahead of elections, according to SCMP Economy.
Trump said the tariff waiver would apply to imports “with no out of quota tariff” and did not specify which countries would supply the beef.
He added that the arrangement includes a commitment to sell the imported beef at 25% below market prices, positioning the move as support for rebuilding the herd and aiding ranchers, SCMP Economy reported.
The outlet also linked consumer pressure to high food prices, with additional cost pressures tied to an energy crisis related to the war in Iran, which has pushed up fuel and transportation costs.