Trump to Sign Order Boosting Argentina Beef Imports Fourfold
President Trump is set to sign an executive order aimed at significantly increasing beef imports from Argentina. This move, slated for Friday, will quadruple the amount of Argentine beef entering the U.S. The new trade agreement would allow for an additional 100,000 tons of Argentine beef, equating to roughly $800 million in exports.
Details of the Trade Agreement
The agreement, signed on Thursday, marks a notable expansion of preferential access for Argentine beef in the U.S. market. This initiative is framed as a response to surging beef prices in the United States, which reached a decade-high of $6.68 per pound in December.
Impact on Beef Prices and Cattle Ranchers
A senior administration official stated that increasing imports is a key strategy to lower costs for consumers. However, this move has sparked concern among American cattle ranchers. The National Cattlemen’s Beef Association has criticized the agreement, branding it a “misguided effort” that may jeopardize the livelihoods of local farmers and ranchers.
- The average price of beef in December 2022 was $6.68 per pound.
- The new agreement allows for 100,000 tons of additional Argentine beef imports.
- This is expected to generate $800 million for Argentine beef exports.
Colin Woodall, CEO of the National Cattlemen’s Beef Association, expressed concern regarding the administration’s approach, urging the government to let cattle markets operate independently. Woodall emphasized the importance of supporting American farmers rather than resorting to increased imports.
Reactions from U.S. Officials
President Trump has previously encouraged ranchers to reduce their prices, linking their current profitability to his imposition of tariffs on imported cattle. In a recent statement, he emphasized the shift in cattle prices since his policies took effect.
Implications for U.S.-Argentina Relations
The trade deal also includes provisions for removing tariffs on various Argentine goods, such as pharmaceutical ingredients. U.S. Trade Representative Jamieson Greer noted that this partnership under President Trump and Argentine President Milei symbolizes a growing collaboration between the two countries.
As the U.S. administration moves forward with this agreement, the complexities of trade and agricultural policy continue to be a focal point of discussion among stakeholders in both countries.
