Topline
U.S. cattle farmers are pushing back against President Donald Trump’s proposal to import beef from Argentina—his latest suggestion for propping up Argentina’s economy in support of his ally, Argentinian president Javier Milei.
President Donald Trump welcomes Argentine President Javier Milei at the White House in Washington, D.C, the United States, Oct. 14, 2025. (Photo by Hu Yousong/Xinhua via Getty Images)
Xinhua News Agency via Getty Images
Key Facts
Trump told reporters Sunday the U.S. could “buy some beef from Argentina,” predicting the move “will bring our beef prices down,” adding “it would help Argentina, which we consider a very good country, a very good ally.”
Trump made the comments after the U.S. announced a $40 billion economic assistance package for Argentina, including a $20 billion currency swap with Argentina’s central bank that Treasury Secretary Scott Bessent said was finalized Tuesday, plus another $20 billion in financing from private sector and sovereign wealth funds.
His suggestion for importing beef prompted backlash from ranchers and at least one Republican lawmaker, Sen. Deb Fischer, R-Neb.
Fischer said Tuesday on X she has “deep concerns” over the Trump administration’s proposal to import beef from Argentina and has been in touch with his administration about the idea, writing: “Bottom line: if the goal is addressing beef prices at the grocery store, this isn’t the way. Right now, government intervention in the beef market will hurt our cattle ranchers.”
CEO of the National Cattlemen’s Beef Association Colin Wooddall said in a statement Monday “this plan only creates chaos at a critical time of the year for American cattle producers, while doing nothing to lower grocery store prices.”
Woodall added that “Argentina has a deeply unbalanced trade relationship with the U.S.,” noting Argentina has sold $801 million worth of beef to the U.S. since 2020, compared to $7 million the U.S. has sold to Argentina.
Big Number
$6.32 per pound. That’s the average price for ground beef as of August 2025, representing a record high, according to the U.S. Bureau of Labor Statistics. Costs have increased due to a shrinking U.S. cattle herd, attributed to drought and increased feed costs, along with trade disruption.
What To Watch For
Legislative elections in Argentina are scheduled for Oct. 26. Milei’s La Libertad Avanza party was defeated by 13 points in Buenos Aires’ provincial election in September, a blow to Milei as he seeks to gain influence in Congress, which is dominated by the Peronist opposition party.
Key Background
Milei has implemented dramatic economic reforms as part of his free-market agenda since his election in 2023, cutting inflation and spending. Argentina’s economy, however, is on the verge of crisis as the value of its currency, the peso, has slid sharply in the wake of Milei’s defeat last month. Trump’s comments that U.S. assistance is contingent on Milei’s victory later this month also triggered an investor sell-off. Trump, while meeting with Milei at the White House earlier this month, said the U.S. would not “waste our time” helping Argentina if Milei loses, and that if “a socialist wins” the U.S. would feel “a lot differently” about supporting Argentina.
Further Reading
Trump’s Argentina beef import plan will ‘harm’ U.S. ranchers, industry warns (NBC)
Trump suggests US will buy Argentine beef to bring down prices for American consumers (Associated Press)
Milei’s Radical Overhaul of Argentina Meets Its March in the Humble Peso (Wall Street Journal)
Source: https://www.forbes.com/sites/saradorn/2025/10/21/trumps-plan-for-buying-argentinian-beef-prompts-backlash-from-ranchers/
