Trump requires investigation into overseas meatpackers over U.S. beef costs

President Trump on Friday accused foreign-owned meat packers of driving up the value of beef within the U.S. and requested the Division of Justice to open an investigation.

The president introduced the transfer on social media days after his get together suffered losses in key elections through which the successful Democratic candidates targeted relentlessly on the general public’s issues about the price of dwelling. Mr. Trump, nonetheless, has insisted grocery costs are down, with some exceptions. The president stated the value of boxed beef is “fishy.” 

“I’ve requested the DOJ to instantly start an investigation into the Meat Packing Firms who’re driving up the value of Beef by way of Illicit Collusion, Worth Fixing, and Worth Manipulation,” Mr. Trump wrote within the social media put up.

“We’ll all the time shield our American Ranchers, and they’re being blamed for what’s being completed by Majority International Owned Meat Packers, who artificially inflate costs, and jeopardize the safety of our Nation’s meals provide,” he continued.

The president supplied no proof to assist his allegations.

“Motion have to be taken instantly to guard Shoppers, fight Unlawful Monopolies, and guarantee these Companies will not be criminally profiting on the expense of the American Individuals,” he stated.

Final month, Mr. Trump advised the U.S. would purchase Argentine beef to carry down stubbornly excessive costs for American customers, angering U.S. cattle ranchers.

Beef costs have soared partly after drought and years of low costs led to the smallest U.S. herd measurement in a long time. Mr. Trump’s tariffs on Brazil, a significant beef exporter, have additionally curbed imports.

Mr. Trump’s accusations have renewed a bipartisan presidential combat towards rising meals costs.

Then-President Joe Biden talked with unbiased farmers and ranchers about initiatives to scale back meals costs by rising competitors throughout the meat business. After which-Vice President Kamala Harris, who Trump defeated in successful reelection final yr, used her marketing campaign to vow to crackdown on meals producers and main supermarkets “worth gouging.”