Three food staples Trump is slashing tariffs on to lower grocery prices | US | News
Following Democrats’ victories on “affordability” in key races across the country in November, President Donald Trump is reducing tariffs to reduce prices of basic household items.
reduced fees It will affect products such as beef, bananas and coffee beans from Guatemala, El Salvador, Ecuador and Argentina.
Embers has been promised in some way Fox News interview this week to “lower some tariffs” Democratic Candidates running on affordable platforms outperformed their opponents last week.
“The Trump administration is committed to pursuing an agile, nuanced and multifaceted strategy on trade and tariffs,” White House spokesman Kush Desai told Bloomberg.
Bloomberg reported that one of the most important trade deals announced by the White House was probably the one with Argentina, home to one of the most protectionist economies in the world.
It’s also an additional boost Trump gave to President Javier Milei’s government after giving the country a $20 billion rescue package in October.
“The countries will open their markets to each other in key products,” according to a White House statement, which said Argentina will provide “privileged market access for exports of U.S. goods” such as certain drugs, chemicals, machinery, information technology products and medical devices.
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The frameworks of trade agreements are expected to be completed within two weeks.
The deal does not force retailers or wholesalers to lower prices, but the White House said in a statement that it expects the savings from the tax cuts to be passed on to consumers.
A Trump administration official told Bloomberg that trade talks are ongoing with Switzerland that could reduce tariffs on watches and chocolates.
The lowering of tariffs continues Trump’s renewed message about affordability. After signing legislation to reopen the government, the president vowed to “lower the cost of living, restore public safety, grow our economy, and make America affordable again for all Americans.”
Although Trump is reducing his own tariffs this year, resetting import taxes to where they were before he took office for a second term.
