Washington, DC [US], November 15 (ANI): President Donald Trump on Friday signed an executive order retroactively lowering tariffs on a range of agricultural imports, including beef, tomatoes, coffee and bananas, with the changes set to take effect on November 20, CNN reported.
The order removes these goods from the “reciprocal” tariff system, which applies rates between 10 percent and 50 percent. However, it does not eliminate tariffs entirely. Tomatoes imported from Mexico — a major supplier for the United States — will continue to face a 17 percent tariff. That rate has been in place since July, after a nearly 30-year-old trade agreement expired, leading to an immediate rise in tomato prices, according to CNN.
Many of the products now excluded from the higher reciprocal tariffs have experienced sharp price increases during Trump’s time in office, driven in part by his own tariff policies and by limited domestic supply, CNN noted. Coffee is among the most notable examples: Brazil, the largest coffee exporter to the United States, has faced a 50 percent tariff since August. As a result, American consumers paid nearly 20 percent more for coffee in September compared to the previous year, according to Consumer Price Index data.
Trump’s move comes as voters express growing frustration with the economy. Exit polls from this month’s off-year elections showed economic concerns pushing voters in several states toward Democratic candidates.
Previewing the executive order earlier this week, Treasury Secretary Scott Bessent said the changes targeted goods “we don’t grow here in the United States,” referring to products like coffee and bananas. While coffee is grown in select parts of the country, it is largely imported.
Earlier on Friday, the Trump administration and the Swiss government announced a new trade framework that will lower tariffs on goods from Switzerland to 15 percent from 39 percent — previously one of the highest rates applied to any US trading partner. (ANI)
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