The reduction in tariffs occurred against the backdrop of recent successes for Democrats in elections in states like Virginia, New Jersey, and New York, where the availability of goods was an important issue for voters.
In an official statement, the White House emphasized that Trump is "strengthening the economy and the security of the country by changing the approach to reciprocal tariffs." The administration noted that the changes came about due to "significant progress in negotiations on mutual trade."
The new measure is also linked to a recent trade agreement between the U.S. and Switzerland, which reduced tariffs from 39% to 15%, as well as agreements to eliminate tariffs on certain groups of goods from Argentina, Ecuador, Guatemala, and El Salvador. Additional agreements are expected to be reached by the end of the year.
However, despite these steps, American consumers continue to express dissatisfaction with high food prices. Economists predict that the cost of some goods may rise next year as companies begin to account for all expenses related to current tariffs.
