President Trump announced Friday that the U.S. will waive higher tariffs on ground beef imports, a bid to lower prices for consumers who are facing historically high beef costs. 

Mr. Trump said on Truth Social that the U.S. will allow up to 300,000 metric tons of ground beef into the country for the next 90 days with “no out-of-quota tariff.” That puts a pause on higher tariffs, which are triggered when trade volume surpasses a certain quota, according to the World Trade Organization.

“We have a commitment that this beef will be sold at 25 percent below current market prices,” the president wrote. “This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again.”

As of July, ground beef cost an average of $6.89 per pound, up 57% from five years ago, according to the Federal Reserve Bank of St. Louis, citing federal labor data. 

Inflation data shows that beef prices have risen much faster than those of other foods. Ground beef prices rose 9% in July from a year ago, while beef steaks rose 9.6%, according to the latest CPI report. 

A U.S. Department of Agriculture spokesperson said Mr. Trump’s action to ease tariffs will “help address the affordability of beef” during a time of record-high consumer demand. Mr. Trump is also “cutting regulations for our farmers and ranchers and rebuilding our nation’s cattle supply,” the spokesperson added.

The White House did not immediately respond to a request for comment.

Beef prices in the U.S. have been rising for decades, driven chiefly by shrinking cattle herd sizes and strong consumer demand. The cattle herd is under pressure due to worsening drought conditions, which are reducing the amount of pasture for cattle to graze. That is forcing ranchers to turn to more costly feed, and in some cases, to cull their herds, according to the USDA.

In July, the nation’s beef cow herd fell to 28.5 million head, a record low for the month, according to the American Farm Bureau Federation, a trade group for the agricultural industry.

The Trump administration has previously sought to rein in beef prices. In February, Mr. Trump signed an executive order to boost imports from Argentina by 80,000 metric tons. 

Some experts have expressed skepticism that such efforts will reduce consumer costs, noting that the additional imports account for a small share of the overall U.S. beef supply — too little to meaningfully impact prices.

Groups representing the cattle industry have opposed attempts to increase imports over concerns that they could undercut American cattle producers. The National Cattlemen’s Beef Association did not immediately respond to a request for comment.