Summary
President Donald Trump has accused foreign-owned meat companies of raising beef prices in the U.S. He has requested an investigation by the Department of Justice to look into possible price fixing and other illegal activities. Trump claims these actions harm American cattle ranchers and affect the country's food security.
Key Facts
- President Trump accused foreign-owned meat packers of increasing U.S. beef prices.
- He called for the Department of Justice to investigate potential price fixing and collusion.
- Trump stated the situation harms American ranchers and threatens food supply security.
- U.S. beef prices have risen to record highs, partly due to drought and reduced cattle herd sizes.
- Trump's tariffs on Brazilian beef have decreased imports.
- Four major companies dominate meat packing in the U.S., with JBS being the largest and based in Brazil.
- Last month, Trump suggested importing Argentine beef to reduce prices, upsetting American ranchers.
- Trump wants to combat illegal monopolies in the meat industry.
