Overview

• President Donald Trump told reporters the U.S. would buy some beef from Argentina, arguing the move would lower prices for American consumers.
• Trump has recently said his administration reached a deal to bring beef prices down, though no formal details or timeline have been released.
• U.S. beef costs have climbed sharply due to drought and curtailed Mexican shipments tied to screwworm outbreaks, and rebuilding herds typically takes years.
• Pressed on the plan’s impact on U.S. producers, Trump rebuked a reporter and defended economic support for Argentina, saying the country is fighting for its life.
• The U.S. Cattlemen’s Association warned that quick fixes can destabilize markets, while soybean groups voiced frustration over the reported $20 billion support for Argentina and its increased exports to China.