Nov. 14 (UPI) — President Donald Trump lowered but did not eliminate reciprocal tariffs and beef, fruits, coffee and other foods in an effort to lower food prices for consumers.
The president announced the reduced tariffs a day after securing trade agreements with Argentina, Ecuador, El Salvador and Guatemala, although a 15% tariff remains in effect for Ecuador, according to The Hill.
“Today’s order follows the significant progress the president has made in securing more reciprocal terms for our bilateral trade relationships,” the White House announced Friday in a news release.
“President Trump’s deals have had and will continue to have broad impacts on domestic production and the economy as a whole, including enhanced market access for our agriculture exporters.”
The other nations will continue to have a 10% tariff in effect, but they could be lowered or eliminated for certain products.
Certain agricultural products won’t be subject to reciprocal tariffs, including tropical fruits and fruit juices, beef, cocoa and spices, bananas, oranges, tomatoes and fertilizers, according to the White House.
Consumers are paying more for coffee, beef and other foods since Trump initiated his reciprocal tariffs policy in April to offset tariffs being charged on U.S.-produced goods in respective nations, CNN reported.
The Consumer Price Index shows people are paying about 20% more for coffee than they did a year ago due to the president’s 50% tariff on coffee imported from Brazil, which is the nation’s largest supplier of the beloved caffeinated beverage.
Tomatoes also are costing more and will continue to have a17% tariff when imported from Mexico after a trade agreement between that nation and the United States expired in July.
Bananas and other food products that are not produced in the United States also are subject to tariff reductions.