"Donald Trump moved to lower tariffs on food imports, including beef, tomatoes, coffee and bananas, in an executive order on Friday as the White House fights off growing concerns about rising costs. The new exemptions take effect retroactively at midnight on Thursday and mark a sharp reversal for Trump, who has long insisted that his import duties are not fueling inflation."
"Trump upended the global trading system earlier this year by imposing a 10% base tariffs on imports from every country, plus additional specific duties that vary from state to state. Friday's orders followed the announcement of a deal to cut US tariffs on Switzerland from 39% to 15% as part of a new trade pact and framework trade deals announced on Thursday that will eliminate tariffs on certain foods and other items imported from Argentina, Ecuador, Guatemala and El Salvador, once those deals are finalized,"
Donald Trump issued an executive order reducing and exempting tariffs on food imports such as beef, tomatoes, coffee and bananas, effective retroactively at midnight on Thursday. The move represents a clear reversal of earlier tariff policy after long-standing claims that import duties were not driving inflation. The order follows recent Democratic electoral gains where affordability was prominent and comes alongside trade deals that cut Swiss tariffs and outline frameworks to eliminate certain food tariffs from Argentina, Ecuador, Guatemala and El Salvador once finalized. The White House characterized the changes as strengthening the economy and national security amid consumer frustration over high grocery prices.
Read at www.theguardian.com
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