Trump rolls back tariffs on dozens of food products
BBC:
US President Donald Trump signed an order Friday to lower US tariffs on agricultural imports such as beef, bananas, coffee and tomatoes, as his government comes under pressure from voters grappling with the escalating cost of living.
These products are now exempted from his “reciprocal” tariffs, imposed this year to address behavior deemed unfair, after the administration considered issues like the US capacity — or lack thereof — to produce certain goods.But other duties in place will continue to apply.The new tariff exemptions are backdated, so they technically took effect on Thursday, according to the order published by the White House.
The Trump administration has been stepping up efforts to convince Americans of the economy’s strength as affordability concerns emerged as a key issue in this month’s elections for New York City mayor, and the governors of New Jersey and Virginia.
Democrats swept all three of those races, with an intense focus on cost of living issues.The list of tariff exemptions published Friday also covers other produce such as avocados, coconuts and pineapples.
Among the products targeted are commodities that the United States imports in order to meet domestic demand.The majority of America’s coffee comes from abroad, and coffee prices have jumped by around 20 percent in August and September, respectively.Part of the reason involved climate shocks, but costs have also been disrupted by tariffs.
National Coffee Association president Bill Murray said the White House move will help “ease cost-of-living pressures for the two-thirds of American adults who rely on coffee each day” and secure supplies for US companies.
Beef prices have been rising this year as well, in part due to a tighter supply of cattle.
On Friday, the White House said that “certain qualifying agricultural products will no longer be subject to those tariffs, such as certain food not grown in the United States.”
Washington’s latest announcement comes a day after it unveiled trade agreements with Argentina, Guatemala, Ecuador and El Salvador.