President reduces tariffs on grocery items amid concerns about affordability
President Trump has signed an executive order to reduce tariffs on grocery items that have risen in price or cannot be grown easily in the U.S.
The order covers a wide range of agricultural products, including beef, tomatoes, coffee and bananas.
“I have determined that certain agricultural products shall not be subject to the reciprocal tariff imposed [under previous orders],” Mr. Trump’s order, signed Friday, said.
Mr. Trump issued the order as he tries to fulfill his campaign pledge to make life more affordable in the U.S.
Democrats won major elections earlier this month running on an affordability mantra, saying the White House wasn’t living up to its promises as inflation remains stubborn and some businesses say Mr. Trump’s tariffs are a cost burden.
The order will be viewed as a tacit acknowledgement that tariffs, when imposed, can induce costs on U.S. importers that are sometimes passed along to consumers.
For months, Mr. Trump has characterized tariffs as something paid by foreign countries as the cost of doing business in the rich American market.
Tagged: Tariffs BACK TO HOMEPAGE