Roughly one month after the Trump administration announced its plan to import beef in an effort to combat high prices at the grocery store, data is showing that prices have not been significantly lowered. New analysis shows that the plan to lower tariffs on imported beef has not delivered the intended goal of reducing consumer prices. Faith Parum, an economist at the American Farm Bureau Federation (AFBF), said the AFBF studied beef prices at 41 grocery stores during the month of September to measure the impact.
Parum said the higher prices can be attributed to the historically small U.S. cattle herd, which will require a long-term solution.
Parum said importing foreign beef is only a short-term fix for a problem that will take years to address.
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