NEWYou can now listen to Fox News articles!
While President Donald Trump’s proposal to import more beef from Argentina is billed by the administration as a way to bring down prices for American consumers, critics say it misses the real issue driving costs at the grocery store: corporate concentration in the U.S. meatpacking industry.
Four corporations — Tyson, JBS, Cargill and National Beef — anchor the U.S. beef supply chain, with pricing power that reaches from pasture to plate. As a result, the gap between what producers are paid for cattle and what consumers spend on beef has remained wide, a reflection, economists say, of how market power is distributed along the supply chain.
Fox News Digital reached out to all four companies for comment but did not receive a response as of publication.
TRUMP ADMIN EYES ARGENTINE BEEF IMPORTS AS DOMESTIC PRICES SOAR TO RECORD HIGHS
Some critics argue the real problem isn’t about supply, it’s the corporate giants controlling America’s meat industry. (Melina Mara/The Washington Post/Getty Images)
The frustration extends beyond farm country – Rep. Thomas Massie, R-Ky., says the dominance of multinational meatpackers is hurting both producers and consumers.
“Four corporations control 85% of the meat sold in the United States. One of these corporations is Chinese-owned and one is Brazilian-owned. American farmers are being squeezed and American consumers are being gouged,” Massie told Fox News Digital.
Massie, who raises cattle on his Kentucky ranch, warned that expanding beef imports from Argentina would only worsen those structural problems.
“Flooding the market with Argentinian beef is not the answer to these problems. An America First solution to rising beef prices is to pass my PRIME Act, which would empower American farmers to sell directly to consumers without interference from global corporate middlemen,” Massie said.
Under current federal law, beef processed at small, state-inspected facilities can’t be…
