President Trump's push to import beef from Argentina, in an effort to lower costs, has created a growing beef in the heartland.

West Branch

President Trump's initiative to increase beef imports from Argentina has caused concern among U.S. cattle farmers, particularly in Iowa. Farmers who have already faced losses due to trade wars and tariffs on soy and corn now worry that additional beef imports will further depress cattle prices, undermining their only profitable sector.

Industry representatives argue that the proposed imports will make up a small portion of the U.S. beef supply and are unlikely to significantly reduce consumer prices. Farmers feel excluded from the administration's trade agenda and are awaiting details on a promised aid package, which has been delayed due to a government shutdown.

U.S. farmers disappointed with Trump’s plan to import Argentine beef

On the CBS Money Watch, red meat prices are at record highs, but President Trump's push to import beef from Argentina to lower cost is a growing beef in the heartland. CBS's Lana Zak is the only network correspondent based in Iowa and has been following this story and reporting on the issue for us tonight. Lana. Hey there, Jerika. As you know, the tariffs and the trade wars have completely crushed soybean prices, but cattle have been on the rebound. That is until now. Come on, come on. After several years of losing money on cattle, Berlin and Pete Wobetter were looking forward to turning a profit. They also grow corn and soy, those sales devastated by the ongoing trade war with China. How important is it to you that you have cattle when soy and corn is going so poorly? Well, it's gonna depend on the year, but this year it is the one thing that is going to make any money for us. So the Wobetters were astounded when President Trump announced he wanted to quadruple beef imports from another country. If we do that, that will bring our beef prices down. It would help Argentina, which we consider a very good country, a very good ally. His words sent wholesale cattle prices plummeting. In the supermarket, the price for meat has skyrocketed over the past year. Ground beef up nearly 13%, steak up 16%. You have to look at the total supply chain. Brian Whalen is a CEO of the Iowa Cattlemen's Association. He says Americans won't really see grocery savings from increasing beef imports. It really only is gonna be about 2.5% of our total beef supply. It's really not gonna make a substantial difference. The Wobetters and their neighbors say they're disappointed that the president's America first trade agenda doesn't include them. The whole point of tariff was to bring production back home. So we are producing beef here, and now he is trying to do something to destroy that production. We're being used and abused as producers. It feels like being a pawn in a game we're not going to win. Now, the White House press secretary says President Trump, quote, loves ranchers, but that increasing the beef supply is the best way to bring down prices. Meanwhile, all farmers are still waiting on the details of that promised aid package that has been put on hold because of the government shutdown. Tariqa? All right, Lana Zak for us tonight. Thank you.

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Caracas

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Belém

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Jerusalem

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Breakdown