Customs duties: Donald Trump announces temporary suspension of taxes on certain beef imports
Donald Trump formalized, on Friday August 21, the suspension of taxes on the importation of some 300,000 tonnes of beef into the United States over the next ninety days. The stated wish is to lower the price of this product, less than three months before the mid-term legislative elections.
In the land of burgers, beef is one of the foods whose cost panics consumers. According to official data on inflation in May, you had to pay 15% more in stores than a year ago to buy a beef steak.
Prices reflect in particular the tensions on supply, with a cattle herd American at its lowest since the 1950s. Breeders put forward economic and climatic reasons, such as repeated droughts which scorch pastures.
“As we work to rebuild this herd and support our ranchers, for the next ninety days, the United States will allow the importation of up to 300,000 tons of ground beef products, tariff-free, over-quota.”said the American president, on his Truth Social platform.
Donald Trump also said that imported meat would be sold “at a price 25% lower than current market prices”without however specifying the countries from which it would come.
Other taxes waived
As the midterm elections approach, purchasing power is one of the main concerns of Americans. At the end of July, the US Department of Agriculture announced the upcoming resumption of imports of Mexican livestock, more than a year after the suspension caused by discord over the fight against a parasite.
Mexico exported just over 1 million heads to its neighbor in 2024, according to estimates by the two governments.
Faced with the inflationary impact of surcharges, Donald Trump’s main economic weapon, Washington had also canceled those targeting a certain number of agricultural products from Brazil, such as beef, but also coffee and tomatoes.
