President Donald Trump on Friday accused foreign-owned meatpacking companies of inflating U.S. beef prices and directed the Justice Department to launch an investigation.
The Republican president made the announcement on social media just days after his party’s setbacks in key elections, where Democrats centered their campaigns on voters’ concerns over the rising cost of living.
Trump posted on Truth Social, “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. 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!”
In a separate post, he added, “While Cattle Prices have dropped substantially, the price of Boxed Beef has gone up. Therefore, you know that something is ‘fishy.’ We will get to the bottom of it very quickly. If there is criminality, those people responsible will pay a steep price!”
This is a breaking news story. Updates to follow.
https://www.newsweek.com/donald-trump-beef-price-meat-packing-doj-investigation-11014086
