Trump accuses foreign-owned meat-packers of inflating U.S. beef prices and calls for investigation
WASHINGTON — President Trump on Friday accused foreign-owned meat-packers of driving up the price of beef in the U.S. and asked the Department of Justice to open an investigation.
The Republican president announced the move on social media days after his party suffered losses in key elections in which the winning Democratic candidates focused relentlessly on the public’s concerns about the cost of living.
“I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation,” Trump wrote in the social media post.
“We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation’s food supply,” he continued.
Trump offered no proof to support his allegations.
Beef prices have soared to record levels in part after drought and years of low prices led to the smallest U.S. herd size in decades. Trump’s tariffs on Brazil, a major beef exporter, have also curbed imports.
Concentration in the meat-packing business has long been a concern for farmers and politicians on both sides of the aisle. There are four major meat-packing companies in the United States, and the largest beef company, JBS, is headquartered in Brazil. JBS USA did not immediately respond to a request for comment on Friday.
“Action must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People,” Trump said.
Last month, Trump suggested the U.S. would buy Argentine beef to bring down stubbornly high prices for American consumers, angering U.S. cattle ranchers.
Trump’s accusations have renewed a bipartisan presidential fight against rising food prices.
Then-President Biden talked with independent farmers and ranchers about initiatives to reduce food prices by increasing competition within the meat industry. And then-Vice President Kamala Harris, whom Trump defeated last year, used her campaign to vow to crack down on food producers and major supermarkets “ price gouging.”
Superville and Karnowski write for the Associated Press. Karnowski reported from Minneapolis.