President Trump is providing tariff relief on food items coming from countries like Argentina, Ecuador, Guatemala and El Salvador, in order to ease food prices.
As the US Trade Ambassador Jamieson Greer said this morning, the tariffs created the opportunity to make deals with these country and it is appropriate that the tariffs be dropped now that deals are being finalized:
Here’s more from Reuters:
WASHINGTON, Nov 13 (Reuters) – The United States said on Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and El Salvador under framework agreements that will give U.S. firms greater access to those markets.
The agreements are expected to help lower prices for coffee, bananas and other foodstuffs, a senior Trump administration official told reporters, adding the administration expected U.S. retailers to pass on the positive effects to American consumers.
The framework deals with most of the four countries should be finalized within the next two weeks, the official said, with additional agreements seen as possible before the end of the year.
U.S. Treasury Secretary Scott Bessent on Wednesday said the U.S. planned some “substantial” announcements in coming days that would lead to lower prices on coffee, bananas and other fruits, as part of a push by the Trump administration to drive down the cost of living for Americans.
Secretary of State Marco Rubio and Brazil’s Foreign Minister Mauro Vieira discussed a framework for a U.S.-Brazil trade relationship in a meeting this week, the U.S. State Department said on Thursday.
Brazil is the world’s largest coffee producer and exporter but its exports to the U.S. face crushing 50% duties imposed by U.S. President Donald Trump.
When Trump first announced his tariff plans, he said there would be short-term pain from prices going up while deals are being made. I’m glad to see he is following through and removing these tariffs.