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Coffee, Banana, Cocoa Get Tariff Reprieve Under New Latin American Trade Deals
The administration plans tariff cuts on coffee and fruits to reduce consumer prices amid inflation, with coffee prices up nearly 19%, Treasury Secretary Scott Bessent said.
- On Wednesday, U.S. Treasury Secretary Scott Bessent said the administration will soon announce tariff cuts on coffee, bananas and other imported fruits to lower consumer prices, and President Donald Trump said prices would fall.
- Rising consumer prices have pushed coffee costs up about 18.9% and bananas about 8%, following Democrats' recent election wins and voter frustration with high prices.
- Tariff schedules show U.S. consumers pay 50% of tariff costs, U.S. businesses 22%, and foreign exporters 18%, affecting importers and U.S. businesses.
- Most tariffs are likely to be passed to U.S. consumers as businesses adjust prices in the coming months, while companies that raised prices may delay reductions despite potential tariff cuts.
- Given the administration's earlier stance, the White House had insisted foreigners would bear tariffs, but cutting coffee and bananas tariffs signals an unusual policy shift by President Donald Trump.
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26 Articles
26 Articles
Coffee, banana, cocoa get tariff reprieve under new Latin American trade deals
The White House said Thursday it had reached framework agreements on trade deals with four Latin American countries to lower tariffs on some goods, such as coffee and bananas. The administration outlined deals with Argentina, El Salvador, Ecuador and Guatemala. Administration officials said the agreements would provide tariff relief for those countries on goods that cannot be…
·Washington, United States
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Analysis: Trump fact-checks himself on whether Americans pay for his tariffs
When Fox News host Laura Ingraham reminded President Donald Trump in an interview this week that coffee prices are high, Trump responded, “Coffee: we’re going to lower some tariffs, we’re going to have some coffee come in. We’re gonna take care of all this stuff very quickly, very easily.”
·Atlanta, United States
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Coverage Details
Total News Sources26
Leaning Left3Leaning Right5Center9Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 18%
C 53%
R 29%
Factuality
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