Trump broadcasts DOJ probe of meatpackers for 'driving up the worth of Beef'

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Enterprise & Economic system

The Massive Story

Trump targets meatpackers amid stress over costs

President Trump is taking goal at main meat corporations as Republicans going through rising backlash over rising costs.

In a Friday submit on Fact Social, the president mentioned he requested the Justice Division to analyze the meatpacking business, which he accused of "driving up the worth of Beef by Illicit Collusion, Value Fixing, and Value Manipulation."

Beef costs are up practically 15 p.c over the previous 12 months, squeezing family budgets as inflation stays stubbornly excessive. The annual inflation fee hit 3 p.c in September, one full proportion level above the Federal Reserve's annual goal.

"Motion should be taken instantly to guard Shoppers, fight Unlawful Monopolies, and guarantee these Firms usually are not criminally profiting on the expense of the American Folks," Trump mentioned Friday.

A 12 months after ousting the Biden administration thanks partially to inflation frustrations, Trump and Republicans are going through the same downside — and turning to comparable options.

Democrats notched blowout victories within the New Jersey and Virginia governors races Tuesday, flipping state legislative seats in crimson districts and recapturing areas that shifted rightward alongside the way in which.

Strategists in each events attributed the Democratic victories to rising considerations concerning the rising value of residing and distinctive ways in which profitable Democratic candidates addressed them.

Trump earlier Friday dismissed the Democratic give attention to affordability as a "con," and snapped at a reporter who pressed him on his claims about meals costs.

However in asserting an antitrust investigation into the meat business, Trump is taking a web page out of the Democratic playbook.

Biden and Democrats took goal on the energy of main meat corporations following shortages, worth spikes and labor violations seen all through the COVID-19 pandemic.

As inflation raged all through 2022, the Biden administration stepped up its efforts guilty massive corporations for unnecessarily driving up costs, together with by antitrust efforts.

Welcome to The Hill’s Enterprise & Economic system publication, I am Sylvan Lane — overlaying the intersection of Wall Avenue and Pennsylvania Avenue.

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Important Reads

Key enterprise and financial information with implications this week and past:

Right here’s the place costs stand as Trump, Democrats struggle over affordability

President Trump and Democrats are combating over affordability after voters delivered a serious rebuke to the Republican Occasion in key elections this week.

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Trump criticizes Democrats’ affordability ‘con’

President Trump ripped Democratic messaging on affordability in Tuesday’s off 12 months elections, calling it a “con job” by the Democrats.

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Client sentiment plunged in November to near-record lows

Client sentiment plunged to near-record lows in November because the slowing job market, cussed inflation and the federal government shutdown submit rising issues for President Trump.

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Greene pushes again on Trump: ‘Affordability is an issue’

Rep. Marjorie Taylor Greene (R-Ga.) pushed again on President Trump’s declare that grocery costs are falling, arguing that affordability — a difficulty she believes contributed to GOP election losses this week — is an issue for a lot of People.

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In Different Information

Department out with extra tales from the day:

US vacationers scramble to regulate as airways reduce 1,000 flights due to shutdown

Anxious vacationers throughout the U.S. felt a little bit of aid Friday as airways principally stayed on schedule …

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