The Trump administration is reportedly looking to boost both beef imports and domestic beef production in a bid to lower the sky-high beef prices American consumers face at the supermarket. With beef prices hovering near record highs , the White House is preparing to temporarily reduce beef tariffs, increase loan access for U.S. ranchers, and roll back environmental laws that impact the beef industry, The Wall Street Journal reported . The administration is looking to suspend annual tariff-rate quotas, which impose a higher tariff rate once certain import levels are reached, while steering more Small Business Administration support to ranchers to help them access capital to expand their operations. Other planned changes reportedly include slashing protections for gray and Mexican wolves under the Endangered Species Act and reducing regulatory requirements such as electronic ear tags for cows.…