Trump Administration Announces Rollback of Tariffs on Food Products
WASHINGTON – The Trump administration announced Thursday it will remove tariffs on a range of food products, reversing course after months of maintaining that its trade policies would not raise prices for American consumers. The tariff exemptions, effective retroactively to midnight on November 13th, come as grocery prices have steadily increased and concerns mount over affordability.
President Trump had previously asserted his tariffs – a standard 10% on imports from all countries, with additional levies on many trading partners – would not lead to higher costs for U.S.shoppers, even dismissing affordability as a “new word” and a “con job” promoted by Democrats. However, the move signals a shift in strategy as the administration seeks to address rising food costs.
Economists have consistently warned that businesses would likely pass the costs of tariffs onto consumers through increased prices. Recent data from the Department of Labour’s inflation report supports these concerns, showing price increases across most tracked items, including a 2.7% rise in grocery prices compared to last year, despite overall inflation remaining relatively mild in September.
Beyond the broad exemptions, the administration also announced lowered import taxes on coffee and bananas as part of new trade deals with four Latin American countries. President Trump and Treasury Secretary Scott Bessent have both publicly committed to lowering coffee prices, which have risen approximately 20% in the U.S. this year.
