WASHINGTON/CHICAGO — U.S. farmers on Monday criticized President Donald Trump’s suggestion that the country may import more beef from Argentina, after they recently lost out to the South American nation on soybean sales to top buyer China. Trump said on Sunday that he was considering imports to reduce U.S. beef prices that have climbed to record highs. His administration earlier extended a $20 billion currency swap lifeline to Argentina, which the president considers an ally.
Cattle producers saw the suggestion as a threat to their livelihoods and free markets, at a time when ranchers are profiting from sky-high livestock prices and strong consumer demand.
“This plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices,” said Colin Woodall, CEO of the National Cattlemen’s Beef Association industry group. Last month, the Trump administration frustrated farmers by negotiating financial support for Argentina at a time when Argentina was selling soybeans to China, which has not bought any soy from the autumn U.S. harvest due to its trade conflict with Washington.
“The last thing we need is to reward them by importing more of their beef,” said Rob Larew, president of the National Farmers Union.
Trump floated hiking beef imports aboard Air Force One on Sunday night.
A U.S. Department of Agriculture spokesperson said the agency is working to lower beef prices while supporting cattle ranchers with disaster aid and other efforts.
“These actions coupled with President Trump’s work to secure lasting markets for beef producers abroad send a strong message to American cattle producers — raise more beef and rebuild the herd,” the spokesperson said.
The White House did not respond to a request for more information. U.S. feeder cattle futures tumbled on Friday after Trump first said he was working on a deal to lower beef prices. They hit their lowest level in more than a week on Monday before ending nearly unchanged.