Trump pushes foreign food crackdown as grocery prices rise

"Catch up quick: Trump issued an executive order Saturday directing the Justice Department and Federal Trade Commission to establish task forces on anti-competitive behavior in the food supply chain. The order specifically directs them to look at "whether control of food-related industries by foreign entities is increasing the cost of food products in the United States or creating a national or economic security threat to Americans." The task forces are expected to brief congressional leaders within six months."

"Of the so-called Big Four meatpackers that control more than 80% of the market, two (JBS and National Beef) are subsidiaries of Brazilian companies. National Beef was sold to Brazil's Marfrig during Trump's first presidency. Smithfield Foods, one of the world's largest pork producers, is controlled by China's WH Group. Foreign giants dominate related industries, too: fertilizer makers like Canada's Nutrien, seed makers like Germany's Bayer and BASF, and farm equipment companies like Japan's Kubota and Europe's CNH."

"The administration has already moved to lower food costs by acknowledging policy impacts elsewhere. In October, the Labor Department moved to make it cheaper to hire foreign workers for farm jobs, in the face of immigration crackdowns that had squeezed agricultural labor and raised farmers' costs. In November, Trump exempted dozens of food products, from drinks and spices to fruits and meat, from reciprocal tariffs."

An executive order directs the Justice Department and Federal Trade Commission to create task forces to investigate anti-competitive behavior and foreign control in the U.S. food supply chain. The order instructs review of whether foreign control raises U.S. food costs or poses national or economic security threats and asks the DOJ to pursue criminal charges for price-fixing. Task forces must brief congressional leaders within six months. Major U.S. food sectors are substantially owned by foreign firms, including large meatpackers, pork producers, fertilizer, seed, and equipment makers. The administration has also eased farm labor hiring rules and exempted many food products from reciprocal tariffs to lower prices, while voter concern about inflation rises.

Read at Axios