Trump Authorizes Action to Break Monopoly in Food Processing Sector
· Bloomberg HT
U.S. President Donald Trump has initiated a legislative process to grant farmers and ranchers the right to process their own products, aiming to end the monopoly held by four major foreign-dominated companies in the food processing sector.
Donald Trump announced on his social media account that he has initiated a new legal process to protect the rights of farmers and ranchers. Trump pointed out that producers are experiencing serious problems with large manufacturing companies and stated that they aim to break the oligopolistic structure in the food processing sector.
U.S. President Donald Trump, reacting to the monopolization in the sector, made the following statements:
"There are 4 of them, which is not a competitive number, and they are poisoning the lives of our great farmers and ranchers, and I can't let that happen, can I? Therefore, to break this powerful monopoly, a large part of whose ownership is outside the U.S., I am authorizing the preparation of legal documents that will ensure farmers and ranchers are given the right to process their own food. This process must move quickly."