President Donald Trump signed an executive order on Friday (November 14) lifting tariffs on several tropical fruits, such as beef, coffee, and bananas, as part of an effort to ease consumer frustration over high prices, Newsweek reported.
The move comes after off-year elections in early November in which voters cited economic concerns as their top priority, contributing to significant Democratic victories for Abigail Spanberger in Virginia and Mikie Sherrill in New Jersey.
What To Know
The executive order comes after the US announced it had reached a framework agreement with Ecuador, Guatemala, El Salvador, and Argentina to reduce import tariffs on agricultural products. Earlier in the week, Trump hinted at plans to reduce tariffs on coffee to boost imports. He said the US relies heavily on foreign suppliers.
The new agreements will allow the Trump administration to remove “reciprocal tariffs” on products that are not produced in the United States or cannot be supplied domestically in sufficient quantities, Newsweek reported, citing a White House fact sheet. These categories include coffee and bananas from Ecuador and beef from Argentina, which the administration said would help ease the burden on consumers facing higher grocery costs.
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Trump’s executive order will take effect immediately on eligible imports. The United States is one of the world’s largest consumers of beef. Beef prices have become a particular political concern as they hit record highs across the United States this year, partly due to Trump’s tariffs on Brazil.