President Donald Trump has accused foreign-owned meat packers of colluding to inflate beef prices in the United States. He urged the Department of Justice to launch an investigation into alleged price fixing and manipulation.
Trump made the announcement on social media, emphasizing that American ranchers are being unfairly blamed for rising costs. He claimed that foreign-owned companies are “artificially inflating prices” and threatening the nation’s food security.
Beef prices have hit record highs due to drought, reduced cattle herds, and import restrictions. Trump’s earlier tariffs on Brazil, a major beef supplier, have also limited imports. Despite higher prices, demand for beef remains strong as consumers continue buying steaks and hamburgers.
The meat packing industry’s concentration has long raised concerns. Four companies dominate the U.S. beef market, including Brazil-based JBS, the largest beef producer. In 2022, JBS paid $52.5 million to settle price-fixing claims but did not admit wrongdoing.
Senator Markwayne Mullin said he and other Republican lawmakers discussed market volatility with Trump at the White House. Trump’s renewed focus mirrors previous efforts by both parties to curb food price manipulation and protect ranchers from corporate control.
