U.S. beef prices have been stubbornly high for a variety of reasons, including drought and reduced imports from Mexico due to a flesh-eating pest in cattle herds there.
U.S. beef prices have been stubbornly high for a variety of reasons, including drought and reduced imports from Mexico due to a flesh-eating pest in cattle herds there.
So the government will buy it and give out to people for free? Because otherwise I don’t see how it will lower prices.
Bubula et circenses.
Prices would go down due to an economic principle known as supply and demand
The basic idea is in a market where the demand for an item (beef in this case) outstrips the supply, the price goes up until the demand is equal to the supply. By importing Argentinian beef, you’re increasing the available supply in the market. Thus the price will decrease until supply and demand are again equal
That would only be true if beef imported from Argentina was cheaper than beef produced in US, right? And if imported beef was cheaper it would already be in US, right? Unless there are some health based restrictions that prevent importing beef and the government is going to remove those?