Trump Admin to Suspend Beef Import Quotas

The Trump administration plans to temporarily suspend tariff-rate quotas on beef imports from all exporting nations as soon as Monday, according to people familiar with the matter, in an effort to ease record-high prices facing U.S. consumers.

The move would allow more beef to enter the country at lower tariff rates once annual import limits are exceeded, addressing short-term supply shortages. A White House official described the tariff suspension as a quick intervention to boost availability, paired with longer-term steps to reduce costs for domestic producers. Those include directing the Small Business Administration to expand loans and capital access for U.S. ranchers, easing Endangered Species Act protections for gray and Mexican wolves, and rolling back Agriculture Department requirements such as electronic ear tags on livestock.

Beef prices have surged amid a confluence of factors, including prolonged droughts in cattle-producing states like Texas, rising feed costs, and a U.S. cattle herd that has shrunk to its lowest level in 75 years. Ground beef prices are up about 40 percent from five years ago, according to federal data, even as the country heads toward a record 5.8...