Trump to sign executive order quadrupling beef imports from Argentina
CBSN
Washington — President Trump is expected to sign an executive order Friday that quadruples the amount of beef imported into the U.S. from Argentina under a new trade agreement with the South American country, according to a senior administration official.
Washington — President Trump is expected to sign an executive order Friday that quadruples the amount of beef imported into the U.S. from Argentina under a new trade agreement with the South American country, according to a senior administration official.
Argentina's Foreign Ministry wrote in a statement that the new agreement, which was signed Thursday, will "grant an unprecedented expansion of preferential access for Argentine beef to its market by 100,000 tons," representing an increase of "$800 million in Argentine beef exports."
The administration official told CBS News that expanding imports is part of an effort to lower beef costs for consumers.
The cost of beef has soared over the past several years, peaking at $6.68 per pound in December, according to the Federal Reserve. That is the highest level beef prices have reached since the Department of Labor started tracking prices in 1984.
But the main group representing American cattle ranchers has said the increase in imports is a "misguided effort" and will damage the "livelihoods of American cattlemen and women, while doing little to impact the price consumers are paying at the grocery store."
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Washington — President Trump is expected to sign an executive order Friday that quadruples the amount of beef imported into the U.S. from Argentina under a new trade agreement with the South American country, according to a senior administration official.
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