Today, President Donald J. Trump directed the Department of Justice to launch an investigation into the nation’s largest meat packing companies for potential collusion, price fixing, and price manipulation. This decisive action targets the foreign-dominated conglomerates that control America’s meat supply and have been accused of artificially inflating prices at the expense of farmers, ranchers, and working families.

It’s time to protect AMERICAN CONSUMERS.

Here’s what you need to know:

• For too long, a handful of giant meat packers have squeezed America’s cattle producers, shrunk herds, and jacked up prices at the grocery store. By examining whether these companies have violated antitrust laws through coordinated pricing or capacity restrictions, this investigation will root out any illegal collusion, restore fair competition, and protect our food security.
• The “Big Four” meat packers — JBS (Brazil), Cargill, Tyson Foods, and National Beef — currently dominate 85% of the U.S. beef processing market, up from just 36% in 1980. Two of these companies, including the largest meat packer in the world, are either foreign-owned or have significant foreign ownership and control.
• Industry consolidation has crushed competition and hammered cattle producers. In the 1980s, the top four packers purchased one-third of all fed cattle; by the mid-1990s, that share exploded to over 80% and has only grown more concentrated since.
• This has led to the exploitation of American consumers, farmers, and ranchers. In fact, mounting evidence shows this monopoly power has slashed payments to ranchers, reduced herd sizes, driven up consumer prices, and threatened America’s food supply chain.

President Trump will ALWAYS have the backs of our Great American Farmers.

The post Trump Administration Cracks Down on Foreign-Owned Meat Packing Cartels appeared first on The White House.

Read More

Articles

Articles – The White House

[crypto-donation-box type=”tabular” show-coin=”all”]