The Steaks Are High: Trump Announces New Midterms Affordability Move

August 21, 2026 11:13 AM ET President Donald Trump announced Friday that the U.S. will try to lower historically high beef prices by temporarily waiving tariffs on ground beef imports before the midterms — an election that will likely hinge on affordability and inflation concerns among voters. U.S. beef prices have risen for decades due to smaller cattle herd sizes and high, steady consumer demand. Ground beef cost an average of $6.89 a pound in July, a 57% increase from 2021, according to U.S. Bureau of Labor Statistics data“For the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out of quota tariff,” Trump wrote on Truth Social. “We have a commitment that this beef will be sold at 25 percent below current market price