Trump lifts reciprocal tariffs on most beef imports

US President Donald Trump signed an executive order that removes reciprocal tariffs on nearly all beef imports, effective 12:01 am EST on Nov. 13.

The modifications to the Harmonized Tariff Schedule of the US will facilitate a smoother importation process for beef products, including fresh and frozen cuts. The changes are expected to benefit both consumers and businesses by potentially lowering prices and increasing availability.

The new executive orders will lift the reciprocal tariffs imposed on April 2 in US Executive Order 14257, as follows:

"Argentina still has a quota of 20,000 mt on its shipments of beef to the US, with an above-quota tariff of 26.4% applying to shipments above the quota," Roger Bernard, senior policy analyst at S&P Global Energy, said. "Brazil typically fills most if not all of the 65,000 mt "other countries" quota that applies to beef imported to the US. Imports above the quota face a tariff of 26.4% plus the extra 40% tariff the US applied, which was not removed by the Nov. 14 presidential action."

The main origins of the 1.59 billion mt of beef imported by the US in 2024 were Australia with 355,159 mt, Canada with 351,990 mt, Brazil with 234,353 mt, and Mexico with 221,848 mt, according to USDA data.

Meat import council of America

The Meat Import Council of America Congress was just held from Nov. 10 to 12, and the main topic was the market and price risk due to the US tariffs uncertainty.

MICA has indicated that further details will be provided regarding the Executive Order to its members on Nov. 17 as they analyze the implications of this executive order. MICA representatives expressed optimism about the potential for increased beef imports, which could help stabilize prices in the domestic market.

"Following our earlier alert, we want to provide clarity regarding how Nov. 14 Executive Order interacts with the existing tariff structure for Brazilian beef products," MICA said in a press release Nov. 15. "Based on the information currently available, Brazil's 40% additional tariff remains in effect. Only the 10% reciprocal tariff appears to have been removed."

Platts assessed 90CL beef CIF US at $7,385/mt, or $3.35/lb, on Nov. 14 for a 30-to-60-day shipment period, up from $6,702/mt, or $3.04/lb on April 2, when the reciprocal tariffs were announced.

Platts assessed 95CL beef CIF US at $7,871/mt, or $3.57/lb, on Nov. 14 for a 30-to-60-day shipment period, its highest value since the assessment started on March 18, 2024. The 95CL assessment was up from $7,143/mt, or $3.24/lb on April 2.