Trump "Investigate beef price collusion"

"Meatpackers, threat to food supply security"

U.S. President Donald Trump said that beef prices rose due to collusion in the U.S. meatpacking industry and ordered the Justice Department to investigate.

According to Reuters on the 9th, Trump said on Truth Social on the 7th, "Meatpackers are illegally colluding, fixing prices, and manipulating the market to drive up beef prices," and he ordered an immediate investigation. He added, "Even though cattle prices have fallen significantly, packaged beef prices have risen," and "you can see that something suspicious is going on."

He said, "(The meatpackers) have artificially raised prices and are even harming U.S. food supply security," and he pointed out, "Although the responsibility mostly lies with meatpackers owned by foreign capital, our livestock farmers are being criticized." He also emphasized, "We will always protect American livestock farmers," and added, "Immediate action must be taken to protect consumers, to fight illegal monopolies, and to stop these companies from profiting from crimes at the expense of the American people." President Trump said, "If there were criminal acts, those responsible will pay a heavy price."

Recently, after the Democrats won in some local elections held on the 4th by focusing on voters' sensitive concern about prices, President Trump pushed back. He claims that all prices except beef have fallen compared with the previous Joe Biden administration and is responding to the Democrats' high-inflation offensive.

Reporter Kim Joo-wan kjwan@hankyung.com