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Meat costs drive Trump to favor Brazilian imports
The Trump administration announces permission to import 300,000 tons of minced meat at reduced tariffs to support meat prices that are rising due to declining cattle numbers and decreased domestic supplies. This move aims to combat inflation ahead of the midterm elections. The measure is targeted at boosting U.S. imports of Brazilian meats, which have become the largest supplier of minced meat, accounting for 16% of shipments in August, amid criticism of monopolistic practices in the meatpacking industry dominated by major Brazilian and American companies. Brazil also faces restrictions on its exports to China and the European Union due to environmental and health standards. It is expected that Brazil will fulfill two-thirds of the new American demand for lean, fat-free minced meats.
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