President Donald Trump announced on his Truth Social platform Friday that he is ordering the Justice Department to launch a criminal investigation into why beef prices are rising — as at least some of the factors putting pressure on the market are likely his own policies.
"I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation," wrote Trump. "We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation’s food supply. Action must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People. I am asking the DOJ to act expeditiously. Thank you for your attention to this matter!"
"While Cattle Prices have dropped substantially, the price of Boxed Beef has gone up — Therefore, you know that something is 'fishy,'" Trump added. "We will get to the bottom of it very quickly. If there is criminality, those people responsible will pay a steep price!"
There are a number of factors behind rising beef prices, experts have noted, including a record-low cattle population. However, some of the problems plaguing the industry are being made worse by Trump administration policies, including massive tariffs on Brazil, where a lot of imported beef comes from; more generalized tariffs on the inputs ranchers need to run their operations; and a labor shortage at meatpacking plants driven by the Trump administration's mass deportations of immigrant workers.
This comes weeks after the Trump administration moved to alleviate the crisis by increasing beef imports from Argentina, which drew outrage from a number of Republican senators who represent states economically dependent on ranching.
