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As Americans tear into the meat of grilling season, President Donald Trump is suddenly looking just as sensible about trade taxes as he is about income taxes. Patrick Thomas and Gavin Bade report some delectable news in the Journal today: The Trump administration is opening the way to import more steaks and ground beef from overseas, part of a broader effort to
address record-high beef prices. The administration is planning to temporarily reduce tariffs on beef imports as soon as Monday, according to people familiar with the matter. The move would suspend the annual tariff-rate quota—which applies a higher tariff rate after a certain level of beef imports are reached—on all beef-exporting nations, enabling more of the product to enter the U.S. at lower tariff rates. Tariffs are taxes, and fortunately consumers have been on a winning streak of reduced costs as courts have knocked out a range of Trump tariffs and the president has thought better of some of them all on his own. The Journal reporters note: The beef-policy shift is the latest in a series of tariff rollbacks aimed at alleviating costs for U.S. consumers ahead of the midterm elections in November. Last fall, President Trump exempted many food products from his so-called reciprocal tariffs, and in January he delayed planned increases on lumber products and furniture…He also hasn’t followed through on a threat to increase his global minimum tariff from 10% to 15%.
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