Cattle Ranchers Are Getting Grilled 30 Days Into Trump’s Foreign Beef Blitz

American cattle producers are suffering “substantial economic losses” 30 days into President Donald Trump’s midterm gambit to lower the price of ground beef, according to a recent report from an agricultural industry watchdog group.

Trump announced in August that the U.S. would waive tariffs on ground beef imports from Argentina, allowing 300,000 metric tons of lean beef to flood the domestic market on the condition that it would be sold 25 percent below market prices. According to a new report from Farm Action, the move has had little positive effect for consumers but a major negative effect on ranchers and cattle producers. (RELATED: Does Something Smell Off About Trump’s Bulk Beef Buy?)

While American consumers have seen a 13-cent, or 2% reduction, in the price of ground beef since August, Farm Action found that the impact of the Trump administration’s policy on cattle producers has been “far more significant.”

“Since the policy took effect, prices paid for live and dressed cutter cows, which compete directly against the lean beef imports, have fallen 12.2 percent and 13.9 percent, respectively. These steep declines further squeeze ranchers’ profitability and discourage investment in rebuilding the nation’s cattle herd, which has fallen to historic lows,” says the report, which cites data from the U.S. Department of Agriculture.

Farm Action also noted that only “37.5% of the first 100,000-metric-ton tranche had entered the country” as of September, meaning 200,000 metric tons still need to be imported. (RELATED: Egg Price Fixing Shouldn’t Be Just Another Cost Of Doing Business)

“With two additional tranches authorized, cattle prices could face further downward pressure, threatening domestic production and increasing reliance on imported beef,” the report says. “So far, the policy has delivered minimal relief to consumers while inflicting damage on American cattle producers that could ultimately drive beef prices higher, instead of lower.”

Sarah Carden, senior director of research and policy at Farm Action, said in a press release that the data raises “serious questions” about whether the administration’s policy has already backfired.

“Ranchers are seeing steep declines in the prices they receive, and consumers still haven’t seen clear, meaningful relief at the grocery store. We can’t rebuild America’s cattle herd by undermining the producers who raise our cattle,” she said. “If the administration wants to make beef more affordable, it needs to address the lack of competition in the beef supply chain and invest in a stronger domestic cattle industry—not put the burden on American ranchers.”