GOP raises concerns over Trump lifting certain ground beef tariffs

GOP backlash grows to Trump beef intervention

GOP lawmakers and cattle ranchers are immediately raising alarm bells over President Trump’s decision to temporarily lift certain tariffs on imported ground beef to mitigate the cost for American consumers.

The president said Friday a deal is coming that would lower the price of ground beef for Americans to 25 percent below the current market price. It failed to say from which country the beef would be imported.

Critics say that while keeping prices affordable for Americans is important, it shouldn’t be done at the expense of American cattle ranchers.

“While America’s cattle producers share the goal of keeping groceries affordable for consumers, flooding the market with government-subsidized, below-market beef is not the way to rebuild the American cattle herd,” Colin Woodall, CEO of the National Cattlemen’s Beef Association, said in a statement.

“Cattle markets have already turned sharply lower this morning, to the detriment of farmers and ranchers.”

“This is a critical time of year for cattle producers, as we approach the season where they are making decisions regarding their herds,” he added.

Trump said the temporarily lifted tariffs would last for 90 days to allow up to 300,000 metric tons of product for ground beef to be imported “as we work to rebuild this herd and help our ranchers.”

The Hill’s Mallory Wilson has more here .

Welcome to The Hill’s Business & Economy newsletter , I’m Julia Shapero — bringing you the latest on the intersection of Wall Street and Pennsylvania Avenue.

Did someone forward you this newsletter? Subscribe here.

Key business and economic news with implications this week and beyond:

Trump lifts summer gasoline restrictions early as prices remain stubborn

The Trump administration is ending summertime smog restrictions on gasoline early this year in a bid to offer relief for high prices at the pump.

Here’s how Walmart is using $2.9B in tariff refunds

(NewsNation) — Walmart says its $2.9 billion tariff refund is going toward lowering prices for shoppers.

Vance: Bessent has ‘very discreet plan’ to shrink $40 trillion national debt

Vice President Vance said Thursday night that Treasury Secretary Scott Bessent has a “very discreet plan” to shrink the nation’s debt.

Turmoil in Treasury bond yields sparks global worries: What to know

U.S. bond yields are rarely a burning issue with the general public. But that’s changed this week as a spike in yields has hit the front pages and TV newscasts.

Branch out with more stories from the day:

Canadian provincial leader says Trump is a ‘bad person’ as Canada weighs concessions for trade deal

TORONTO (AP) — The premier of a Canadian province launched a blistering attack on U.S. President Donald …

Business and economic news we’ve flagged from other outlets:

Fannie Mae hit by turmoil in senior ranks as roughly 12 executives are let go ( Wall Street Journal )

Apple cuts jobs in Siri, Vision Pro immersive video and gaming teams ( Bloomberg )

Trump lawyer to liberal think tank: Retract National Guard report that defames president

President Trump has demanded a liberal think tank retract a critical report on his National Guard deployments by Friday evening, threatening to file a $5 billion defamation suit if it doesn’t. Read more

NOAA releases fall weather predictions for all 50 states as El Niño grows stronger

Fall is just around the corner, but summer weather may be sticking around a little while longer. A seasonal outlook released by national forecasters on Thursday shows most of the country is expected to see warmer-than-average weather over the next three months. Read more

Check out The Hill’s Business page for the latest coverage.

Like this newsletter? Take a moment to view our other topical products here 📩

Privacy Policy | Manage Subscriptions | Unsubscribe

400 N Capitol Street NW Suite 650, Washington, DC 20001

If you believe this has been sent to you in error, please safely unsubscribe .