President Donald Trump announced Friday that he had reached a deal to temporarily ease tariffs on beef imports, saying the move would help lower prices for families as the United States faces a severe cattle shortage and record-high beef prices.

“Today, I concluded a deal to substantially lower the price of ground beef for working American families,” Trump wrote in a post on Truth Social.

Trump blamed the Biden administration for soaring beef prices and a historic decline in the nation’s cattle herd.

“As everyone knows, under President Biden, beef prices soared at their fastest rate and the American beef herd fell to its smallest size in modern history,” he wrote.

“As we work to rebuild this herd and help our ranchers, for the next 90 days, the United States will allow up to 300,000 metric tons of product for ground beef to be imported with no out of quota tariff,” Trump wrote. “We have a commitment that this beef will be sold at 25 percent below current market prices.”

Affordability has been a key White House message ahead of the 2026 midterm elections, but it has been offset by high energy prices due in large part to the war in Iran.

Still, Trump said the agreement would lower prices for consumers while giving U.S. ranchers time to rebuild the nation’s cattle supply. The record-high beef costs have been driven by a multitude of factors, including low cattle herds, disease, and high corn prices.

Beef prices have climbed to record levels in recent months. Ground beef sold for an average of $6.89 per pound in July, up 10% from a year earlier. In 2024, beef was nearly a dollar less per pound.

The U.S. began the year with about 86.2 million cattle and calves, the smallest herd since the 1950s, according to Agriculture Department data.

The shrinking cattle supply has pushed livestock costs higher, increasing expenses for meatpackers such as Tyson Foods and JBS. At the same time, Tyson closed its second major beef processing plant this year.

The Agriculture Department also announced last month that it would reopen ports along the southern border to Mexican cattle after previously restricting imports over concerns about the spread of New World screwworm, a flesh-eating parasite decimating cattle herds.