Key facts
- President Donald Trump plans to issue a legal order to break up food processing monopolies.
- The order aims to grant farmers and ranchers the right to process their own food.
- Trump described the situation as a 'nasty monopoly' among top processors.
- The announcement follows rising grocery prices and ongoing investigations into the meatpacking industry.
- Four companies currently control approximately 85% of the U.S. meat processing sector.
U.S. President Donald Trump announced on Friday that he is preparing a legal order intended to break up what he described as a "nasty monopoly" within the nation's top food processors. The order would aim to grant farmers and ranchers the right to process their own food.
Trump did not specify which food industry or sector would be targeted but stated that legal documents were being drawn up quickly. This initiative comes as consumers continue to face elevated grocery prices, with midterm elections approaching in November.
The meat processing sector, in particular, is experiencing a 75-year low in supply, with rising cattle costs outpacing gains from soaring prices. Currently, four major companies—Cargill, Tyson Foods, JBS USA, and National Beef Packing Co.—control approximately 85% of the U.S. meat processing market.
Earlier in the week, Trump had indicated he would examine regulations on beef processing plants. He also announced last week a plan to allow more ground beef imports into the U.S. without tariffs. The Justice Department has separately stated it is investigating whether meatpacking companies have engaged in illegal practices to inflate consumer beef prices.