Trump admits tariffs are a tax on America’s love for hamburgers and allows 300,000 metric tons of ground beef imports at ‘below current market prices’

Donald Trump is temporarily opening the U.S. market to additional beef imports over the next three months and will allow up to 300,000 metric tons of product to enter the country without being subject to out-of-quota tariffs.

“This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again,” Trump wrote in a Truth Social post on Friday.

“We have a commitment that this beef will be sold at 25 percent below current market prices.” The president’s post did not name any companies that have made these commitments, nor did he mention who he had reached a deal with regarding import waivers, or if any importers would sell the meat at “below current market prices.” “President Trump will formally sign an executive order to this effect within the next two weeks,” a spokesperson from the White House told Fortune in a statement.

The statement added this will only apply to “lean beef trimmings for ground beef production.” The statement went on to say the president has already secured deals with foreign exporters to provide the 25% discount.

“Beef prices are elevated because of supply shortages that began under the Biden administration,” the spokesperson said.

“The American cattle herd size is at a multi-decade low, while domestic demand for beef continues to be high.” The news wasn’t well received by domestic cattle groups.

The National Cattleman’s Beef Association, in response to Fortune’s request for comment, took issue with the White House’s approach to “flood” the market with subsidized foreign products.

“While America’s cattle producers share the goal of keeping groceries affordable for consumers, flooding the market with government-subsidized, below-market beef is not the way to rebuild the American cattle herd,” read a statement from NCBA CEO Colin Woodall.

“Today’s announcement and other market interventions throw cold water on the prospect of herd expansion and sacrifices long-term stability for short term messaging.” High prices for meat The move amounts to a notable retreat from the protectionist logic behind Trump’s tariff motives.

The president has spent years arguing tariffs would protect American producers, raise revenue and ultimately benefit US consumers.

Now, as beef prices remain stubbornly high, his administration is turning to a cheaper foreign supply to put downward pressure on prices.

The deal comes as ground beef prices approach $7 a pound.

The average price reached $6.89 per pound in July, up about 10% from a year earlier and 57% from five years ago, according to the Federal Reserve Bank of St.

Louis.