More Argentina beef imports won't do much to ease costs for consumers, according to experts

President Trump's move to boost U.S. imports of beef from Argentina to help ease costs for consumers may have less impact than the White House is hoping for, experts said.  Edited by Alain Sherter In:

President Trump's move to boost U.S. imports of beef from Argentina to help ease costs for consumers may have less impact than the White House is hoping for, experts said. 

The executive order, which Mr. Trump signed on Friday amid a new trade deal between the two countries, allows Argentina to export an additional 80,000 metric tons of beef to the U.S. tariff-free this year, according to the Trump administration. The directive applies to imports of lean beef trimmings, which are used to produce ground beef.  

"As President of the United States, I have a responsibility to ensure that hardworking Americans can afford to feed themselves and their families," Mr. Trump said in the order.

But David Ortega, a food economist and professor at Michigan State University, told CBS News that 80,000 tons of beef represents only 0.6% of the overall U.S. beef supply — too little to move the needle on prices, he said. 

"We're talking about less than 1% of supply," Ortega said. "And so I wouldn't expect this to have much of an impact on these prices. Now, it doesn't hurt, but we're not talking about any major quantities that we are importing that would immediately suppress prices."