The U.S. Department of Justice and the Federal Trade Commission will investigate potential price fixing in the U.S. food sector following an executive order issued over the weekend.
The order, signed by President Trump and published Saturday, directs the agencies to form a task force to look into anti-competitive behaviors — as well as, in particular, to examine the national security implications of food businesses owned by foreign entities, Bloomberg reports.
The order covers segments including “meat processing, seed, fertilizer and equipment.” Trump last month suggested that foreign-owned meat processors were to blame for rising beef prices and called for a DOJ probe of the matter; observers noted that higher prices were actually related to a smaller U.S. beef herd, which had declined amid years of low prices and drought conditions.
The task forces are required to brief congressional leaders about their progress within 180 days — and again within one year — following its publication.
