Donald Trump Reduced Tariffs on Beef, Tomatoes, Coffee, and Bananas

Наталья Маркова Economy
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U.S. President Donald Trump has signed a new order aimed at reducing tariffs on a number of agricultural products, which should help control the rising prices of food. The list of products affected by this decision includes coffee, tea, cocoa, spices, beef, tomatoes, bananas, oranges, and others. This is reported by CNN.

However, it is important to note that the products are not completely exempt from tariffs. For example, a 17-percent tariff continues to apply to tomatoes imported from Mexico, the main supplier to the U.S., which was introduced in July after the conclusion of nearly thirty years of trade agreement.

Since Trump took office, prices for many goods have significantly increased, which is attributed both to the tariffs he imposed and to a lack of domestic supply. For instance, since August, Brazil, the largest supplier of coffee to the U.S., has faced a 50-percent tariff, resulting in Americans paying nearly 20 percent more for coffee in September than a year earlier.

The administration hopes that the new agreements will help lower prices on the specified goods in the U.S. and is optimistic that American retail chains will be able to "pass on the positive effect" to their customers, reports Reuters.
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