Trump to reduce tariffs on bananas, coffee and other food items to try to regain the initiative in cost-of-living crisis

"The United States will reduce tariffs on some food and textile products from Argentina, El Salvador, Ecuador and Guatemala, according to administration sources. President Donald Trump has announced the signing of several trade agreements with these countries that will lower the price of bananas, coffee, beef and citrus fruits, among other products. The Republican president is seeking to regain the initiative in the fight against the rising cost of living,"

"To this end, it will ease some of its so-called reciprocal tariffs that affect basic consumer goods. These deals secure commitments on economic and national security issues to strengthen supply chains and trade partnerships in the region, deepening bilateral trade and investment cooperation to provide American exporters with unprecedented access to markets in Central and South America, the White House explained in a joint statement with the four Latin American countries."

Tariffs on selected food and textile products from Argentina, El Salvador, Ecuador and Guatemala will be reduced. Trade agreements signed by President Donald Trump will lower prices for bananas, coffee, beef and citrus fruits among other products. The administration aims to address rising cost of living by easing reciprocal tariffs on basic consumer goods. The agreements include commitments on economic and national security to strengthen supply chains and deepen trade and investment cooperation in the region. The United States will grant Most Favored Nation tariff treatment for certain originating goods that cannot be produced sufficiently in the United States. Treasury Secretary Scott Bessent indicated the measures will rapidly lower prices for items like coffee and bananas.

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