President Donald Trump said Friday that he has reached a deal to allow increased beef imports into the United States in an effort to drive down prices for American consumers.

Under the agreement, up to 300,000 metric tons of product for ground beef will be permitted to enter the country over a 90-day period without facing out-of-quota tariffs. Trump said the imported beef will be sold at 25 percent below current market prices.

“Today, I concluded a deal to substantially lower the price of ground beef for working American families,” Trump wrote on Truth Social. He noted that beef prices soared under the previous administration while the American cattle herd fell to its smallest size in modern history. “This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again.”

Beef and veal prices were up 11.8 percent in June 2026 compared with the previous year, according to Department of Agriculture data, and the U.S. cattle herd has declined to its lowest level in 75 years. Wholesale beef prices remain near all-time highs.

The move follows earlier Trump administration actions aimed at addressing high beef costs, including an executive order expanding Argentine beef imports and Justice Department investigations into meatpacking companies accused of inflating prices.