President Donald Trump signed an executive order Saturday to establish a task force to “remedy any anti-competitive behavior” in the U.S. food supply.
Attorney General Pam Bondi and Federal Trade Commission Chairman Andrew Ferguson will create the Food Supply Chain Security Task Force. Trump instructed the force to “take all necessary and appropriate actions to investigate food-related industries within their established areas of expertise and determine whether anti-competitive behavior exists in food supply chains in the United States, as well as whether control of food-related industries by foreign entities is increasing the cost of food products in the United States or creating a national or economic security threat to Americans.”
After 180 days, Trump expects the task force to give its first briefing to Congress and a second hearing after a year. The task force is expected to recommend congressional actions to combat obstacles to the U.S. food supply.
This executive order comes the day after the Bureau of Labor Statistics reported that inflation rose a tenth of a percentage point to 2.8% for the year ending in September. The bureau’s report was delayed due to the historic government shutdown.
Core inflation was 0.2% on a monthly basis. That does not account for volatile food and energy prices.
The Federal Reserve has a goal is 2% annual inflation but has not been able to reach it since inflation began taking off in early 2021.
Food in particular accounts for about 14% of the average household budget and roughly 20% of the total rise in consumer prices since 2021.
TRUMP CAN’T SHAKE THE AFFORDABILITY ‘HOAX’
Trump’s latest action to combat affordability in the United States comes a month after New York City Mayor-elect Zohran Mamdani won his election. Among Mamdani’s campaign policies to address the city’s affordability crisis is a city-run grocery store. Mamdani traveled to meet Trump in the White House weeks after winning office.
Food prices have been a focus of the Trump administration, which acted swiftly to reverse former President Joe Biden’s restrictions surrounding egg production in particular. As a result, egg prices dropped 67% from their peak by May.
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