Business
Trump signs executive order boosting Argentinian beef imports amid high prices
R-CALF USA CEO Bill Bullard weighs in on President Donald Trump’s new farm aid announcement, what it means for the industry and the widening spread between beef and cattle prices on ‘Making Money.’
President Donald Trump on Friday signed an executive order temporarily expanding the amount of beef the U.S. can import from Argentina, a move the White House says is aimed at lowering prices but that the nation’s largest cattle industry group disputes.
The proclamation increases the in-quota tariff-rate quota for lean beef trimmings by 80,000 metric tons for calendar year 2026. The additional imports will be allocated entirely to Argentina and released in four quarterly tranches beginning Feb. 13.
The White House said the action is intended to boost supply and make ground beef more affordable for American consumers in a fact sheet on the order.
According to the proclamation, the Trump administration is acting in response to historically high beef prices and a prolonged decrease in the U.S. cattle herd.
US, ARGENTINA STRIKE SWEEPING TRADE DEAL CUTTING TARIFFS, OPENING MARKETS TO US EXPORTS

Packages of meat at a supermarket in Houston (Ronald Schemidt/AFP via Getty Images / Getty Images)
“Since January 2021, ground beef prices have continued to rise, reaching an average of $6.69 per pound in December 2025, according to the Bureau of Labor Statistics — the highest since the Department of Labor started tracking beef prices in the 1980s,” the proclamation states.
The announcement drew pushback from the nation’s largest cattle industry group, which questioned whether increased imports would deliver the price relief the administration is promising.
“While we fundamentally disagree with the premise that increased imports can lower beef prices, NCBA is encouraged to see the Trump administration take necessary steps to address longstanding market-access challenges for U.S. beef in Argentina,” said Kent Bacus, executive director of international trade and market access at the National Cattlemen’s Beef Association (NCBA).

Livestock in corrals in Canuelas, Buenos Aires, Argentina (Agustin Marcarian/Reuters / Reuters Photos)
Bacus warned that Argentina’s history with foreign animal diseases raises concerns about expanding imports without stronger safeguards.
“Given Argentina’s issues with foreign animal diseases, NCBA remains concerned that expanding imports from Argentina without increased inspection protocols and up-to-date audits could place American consumers and our cattle herd at unnecessary risk,” Bacus said.
The order applies only to lean beef trimmings, which are primarily used in the production of ground beef. Imported lean trimmings are commonly blended with fattier domestic trimmings to produce ground beef products like hamburgers.
Under the proclamation, the additional 80,000 metric tons will be administered on a first-come, first-served basis in four equal tranches of 20,000 metric tons. The first tranche will open Feb. 13 and close March 31, followed by quarterly openings through the end of 2026.
BEEF PRICES SOAR AS AMERICAN FAMILIES PAY STEEP PRICES FOR STEAKS AND BURGERS NATIONWIDE

A butcher carries slabs of beef in a Miami grocery store. (Joe Raedle/Getty Images / Getty Images)
The White House framed the action as temporary and tied to current supply conditions rather than a permanent shift in American trade policy.
The proclamation outlines several factors contributing to the tight beef supply, including persistent drought conditions in major cattle-producing states such as Texas and Kansas and wildfires that have damaged grazing land and feed supplies across the western U.S.
The Trump administration said the decision to allocate the entire increase to Argentina aligns with an existing U.S.–Argentina trade framework agreement reached in November 2025. A White House official told FOX Business earlier this week that the executive order implements commitments already considered under that framework.
The White House referred FOX Business to a fact sheet upon request for further comment.
FOX Business’ Edward Lawrence contributed to this reporting.
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Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness
OTTAWA—Further interest-rate cuts won’t necessarily help an economy that’s being pulled down by U.S. trade friction, advances in artificial intelligence and lower population growth, Bank of Canada Gov. Tiff Macklem said Thursday.
The Canadian economy is undergoing a profound structural shift, Macklem said. The central bank can help support the transition, but it’s ultimately the response from policymakers, business executives and households that will determine Canada’s future prosperity, Macklem said in a speech delivered in Toronto, the country’s financial-nerve center.
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Luxury Retailer Cosette Announces Closure After 11 Years in Business

Luxury Sydney retailer Cosette has announced that it will close after 11 years in business.
The announcement, which was shared by the retailer online, also shared that the company will hold an Australian Warehouse Sale to offload remaining stock.
Cosette Announces Closure
Cosette likewise took the opportunity to explain the surprising decision to close its doors for good.
“Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story,” the retailer said in its statement. “So, after careful consideration, we have made the decision to close our Sydney warehouse and operations in the near future.”
The retailer has been known for selling pre-owned and authenticated luxury handbags and accessories. However, as news.com.au notes in its report, Cosette was at the center of controversy in 2024 when it was accused of selling fake designer handbags.
Investigations eventually cleared Cosette as it found no evidence to support such claims.
Australian Warehouse Sale
As previously mentioned, Cosette also announced that it will be holding an Australian Warehouse Sale.
The retailer will offer up to 80% off RRP on some luxury brands, such as Saint Laurent, Gucci, Prada and Celine.
There will also be an additional 10% off sitewide, which will be applied at checkout.
“Limited quantities, limited time,” Cosette said in its announcement. “All bags are priced to clear and will not be restocked.”
Business
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MEXICO CITY—The Bank of Mexico left its benchmark interest rate unchanged Thursday, pausing after 12 consecutive cuts to assess the inflationary impact of recent tax and tariff increases.
The five-member board of governors voted unanimously to leave the overnight interest-rate target at 7.0% in their first monetary policy meeting of the year. The pause was widely expected.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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