President Trump is lifting import quotas on ground beef for 90 days, allowing 300,000 metric tons to enter the U.S. without tariffs, with a commitment that it be sold at 25% below current market prices. The president did not specify source countries, but USDA data shows most U.S. beef imports come from Canada, Australia, New Zealand, and Mexico. The move follows a record $6.89 per pound for ground beef last month and comes despite a 26.4% tariff on over-quota beef imports aimed at protecting domestic ranchers amid a 75-year low in the U.S. cattle herd. Shares of Tyson Foods are under pressure on the news, while Brazil-based JBS is trending higher.
Tyson Foods IncIncreased beef imports at lower prices intensify competition for domestic producers like Tyson.
JBS N.V.US lifting beef import quotas increases demand for imported beef, benefiting JBS as a major exporter.
Japan Business Systems, Inc.