Trump Halts Beef Tariff Cut as Sirloin Prices Jump 20%
Updated
Updated · The New York Times · May 29
Trump Halts Beef Tariff Cut as Sirloin Prices Jump 20%
1 articles · Updated · The New York Times · May 29
Sirloin is averaging more than $14 a pound, up 20% from a year ago, after Trump this month considered and then stopped a plan to lower beef tariffs on countries including Argentina.
More than 45% of U.S. cattle moved through just 11 processing plants in 2025, and the top four packers sold 80% to 85% of domestic beef in 2024, underscoring why tariff relief alone would have limited effect.
Chuck Schumer introduced a March bill to break up dominant packers including JBS, Tyson Foods, Cargill and National Beef, while the Trump administration has opened antitrust investigations into beef packers and egg processors.
Food inflation has stayed elevated after roughly a 30% rise between 2019 and 2025, with similar concentration across bread, baby formula and carrots pointing to a broader competition problem in the U.S. food system.
Could the U.S. plan to lower beef prices inadvertently weaken its own ranchers and food security?
Will dismantling meat monopolies lower your grocery bill, or could it actually make beef more expensive?
Beyond mergers, are hidden contracts the real reason for soaring food prices in America?
Record-High Beef Prices in 2026: Policy Turmoil, Shrinking Herds, and Shifting Consumer Habits
Overview
In May 2026, the Trump administration planned to temporarily suspend tariff-rate quotas on beef imports to increase supply and lower prices, aiming to ease the financial burden on households facing record-high beef costs ahead of the midterm elections. However, after significant pushback from domestic agricultural groups and lawmakers representing cattle-producing states—who feared that cheaper imported beef would harm U.S. cattle producers and depress domestic prices—the administration quickly paused the policy. This reversal highlights the political challenge of balancing consumer relief with protecting the livelihoods of American ranchers, leaving high beef prices and supply issues unresolved.