Our AMERICA FIRST president has shown us once again that he is not above placing politics above campaign rhetoric. His disastrous tariffs, war in Iran, and draconian immigration policies have raised beef prices making Americans angry. While he is not up for reelection, he has realized that without a congressional majority after the midterm elections, his remaining term might not be so easy.
Accordingly, he has waived all tariffs on over 300,000 metric tons (660 million pounds) of ground beef for a 90-day period. He claims that, at least for a 90-day pre-midterm period, ground beef prices may drop by as much as 25%. This represents a loss of $4.56 billion dollars in revenue to U.S. cattlemen just so the president can look good for 90 days.
This loss to domestic producers hits them when they are down. They are currently facing a multi-year drought and skyrocketing feed costs with herds now to the lowest levels in over 60 years. This short-term political fix will cost them dearly as they are trying to decide whether to reinvest in rebuilding their herds.
Fast food giants like McDonald’s get a massive injection of cheap tariff-free foreign meat that serves as critical margin relief from skyrocketing meat costs. I guess the senior Trump will get free Big Macs for life now.
The identity of the foreign nation(s) that is/are to benefit from this tariff break is a closely guarded secret. If you see either of the Trump boys wearing cowboy hats you will know that they might be in on that action. It was never about AMERICA FIRST, it was always TRUMP FIRST.
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