The Trump administration announced a 90-day suspension of some beef tariffs in late August 2026, a move aimed at lowering consumer prices, but which caused U.S. cattle auction prices to plummet, temporarily reducing ranchers' profits and angering industry groups such as the U.S. Cattlemen's Association. The move also boosted Brazilian beef imports. Previously, the Trump administration had also allowed more tariff-free beef imports from Argentina, Brazil, and Paraguay in February and August of this year, and these tariff changes all led to sharp fluctuations in cattle futures market prices.