"President Trump on Friday accused foreign-owned meat-packers of driving up the price of beef in the U.S. and asked the Department of Justice to open an investigation. The Republican president announced the move on social media days after his party suffered losses in key elections in which the winning Democratic candidates focused relentlessly on the public's concerns about the cost of living."
"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, 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."
President Trump directed the Department of Justice to investigate foreign-owned meatpacking companies for alleged illicit collusion, price fixing, and price manipulation that have raised U.S. beef prices. Trump said American ranchers are being blamed while majority foreign-owned packers artificially inflate prices and threaten food supply security. Beef costs rose due to drought, years of low prices that reduced herd sizes, tariffs on Brazilian beef that limited imports, and industry concentration among four major companies including Brazil-based JBS. The action aligns with bipartisan concern about surging food costs following elections where cost of living was a prominent issue.
Read at Los Angeles Times
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