Scott Bessent Gives Moo-ving Reason U.S. Beef Prices Are Skyrocketing

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Discern Report

(WND)—U.S. Treasury Secretary Scott Bessent said Sunday part of the reason beef prices have been soaring in America is due to the invasion of illegal aliens during the Biden administration, claiming many migrants brought diseased cattle with them.

Appearing on “Sunday Morning Futures” with Maria Bartiromo on the Fox News Channel, Bessent was reacting to a statement by Omaha Steaks CEO Nate Rempe, who predicted: “By third quarter of ’26, families are going to see $10-a-pound ground beef in the grocery store.”

Bessent said: “The beef market is a very specialized market. It goes in long cycles, and this is the perfect storm again, something we inherited.

“And there’s also, because of the mass immigration, a disease that we’d been rid of in North America, made its way up through South America as these migrants they had brought some of their cattle with them.”

“So part go the problem is we’ve had to shut the border to Mexican beef because of this disease called the screwworm. So we’re not gonna let that get into our supply chain.”

According to the Centers for Disease Control, “New World screwworm is a species of parasitic fly that can cause myiasis and feeds on live tissue. It primarily affects livestock, but it can also infest people.”

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    • When asked how long before Americans would feel an impact of reining in the overall cost of living, Bessent replied: “I think we’re going to see a substantial acceleration in the economy in the first [and] second quarter [of 2026].”

    “I think Americans are gonna feel it in the first quarter, second quarter. I think 2026, thanks to President Trump’s signature plans, is gonna be a great year for working Americans, for the markets. I call it parallel prosperity. Main Street and Wall Street can both do great but I think Main Street’s gonna have a great year in 2026.”

    Meanwhile, tariffs are being removed from several household items not generally produced in the United States, including coffee, cocoa and bananas, and Bessent said he expects prices on those items to drop.

    “This is a complete trade policy,” he explained. “Now we are going to see it affect the prices.”

    Bessent also made a bold prediction about the U.S. Supreme Court’s upcoming ruling about President Trump’s tariffs.

    “This is one of President Trump’s signature policies, and traditionally the Supreme Court does not interfere with a president’s signature policy,” he explained.

    “I would push this back on the Supreme Court. I don’t think this ruling is gonna go against us, but if it does, what’s their plan for refunds?” Bessent added.

    “I don’t think the Supreme Court wants to wade into a mess like that.”

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    The Treasury secretary was also asked about a Wall Street Journal report suggesting China was already reneging on its agreement to provide the U.S. military with rare-earth magnets.

    “We haven’t even finished the agreement,” Bessent said.

    “I am confident they will honor their agreement, and if they don’t we have lots of levers.”

    Asked if one of those levers were to remove China from U.S. financial markets, Bessent responded: “All options are on the table but I believe we will have to go into this believing [Chinese] President Xi will keep his agreements.”

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