The Biden administration’s plan to address higher meat prices is “misguided,” according to the U.S. Chamber of Commerce. The White House announced Monday its action plan to lower meat and poultry prices that consists of diversifying and enhancing the meat-producing supply chain by expanding independent processing capacity. One component of the administration’s initiative includes $1 billion for smaller producers that will be allocated from the American Rescue Plan, the coronavirus relief package. President Joe Biden has proposed extending $375 million in grants to independent meat producers, $275 million in financing for processors, $100 million in training for workers in the industry, and $100 million for smaller processing plants’ inspection costs. The efforts, which build off his executive order in July to explore potential violations of the 1921 Packers and Stockyards Act, also include new rules for meatpackers to enhance the transparency of the broader meat market. Biden and his team …