Why does Trump want US to buy Argentinian beef? What prez said amid efforts to keep inflation in check

Earlier this week, Trump said he would address the matter as part of his efforts to keep inflation in check.

Why have beef prices been high in the US?

US beef prices have been high for various reasons, including drought and reduced imports from Mexico because of flesh-eating pests in cattle herds there. Trump has been trying to help Argentina strengthen its collapsing currency with a $20 billion credit swap line, as well as additional financing from sovereign funds and the private sector. This has been happening ahead of midterm elections for Trump’s close ally, President Javier Milei.

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According to a recent Bloomberg report, Trump said during an event in the Oval Office last week that his administration has struck an agreement to decrease the price of beef for consumers. He did not provide elaborate details on the federal effort, but did admit that beef was an area where his efforts to tackle inflation had not paid enough dividends.

“We are working on beef, and I think we have a deal on beef that’s going to bring the price” down, Trump said, per the outlet. “That would be the one product that we would say is a little bit higher than we want it, maybe higher than we want it, and that’s going to be coming down pretty soon too. We did something, we worked our magic.”

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Trump made these remarks days after he hosted Milei at the White House to discuss trade and financing in an attempt to help bolster Argentina’s economy. Notably, the United States is a major importer of Argentine beef.