TACO! Trump Reportedly Preparing Big Tariff Reductions as Part of Affordability Push

"President Donald Trump is reportedly considering a major rollback of his trade policy. According to The New York Times Maggie Haberman and Tyler Pager, his administration is preparing broad exemptions to certain tariffs in an effort to ease elevated food prices that have provoked anxiety for American consumers, according to three people briefed on the actions. They continued: The change would apply to certain reciprocal tariffs the president announced in April,"

"including on products coming from countries that have not struck trade deals with the administration, the people said, discussing a pending announcement on the condition of anonymity. The exemptions are expected to include beef and citrus products, although the people cautioned that President Trump had not made a final decision. The issue of increasing beef imports has been a source of contention among U.S. ranchers, who say it runs counter to Mr. Trump's philosophy of boosting domestic production."

"If the proposal goes forward, it would be the latest rollback of one of the president's key economic policies over growing concerns about affordability, even as Mr. Trump has insisted wrongly that prices are down. Last week, Democrats won elections around the country in large part by harnessing worries about the cost of living. The plan likely to take effect goes beyond the exemptions that Mr. Trump proposed in September in an executive order,"

The administration is preparing broad exemptions to certain reciprocal tariffs announced in April to address elevated food prices and consumer anxiety. Expected exemptions include beef and citrus, though no final decision has been made. Increasing beef imports has drawn criticism from U.S. ranchers who view the move as contrary to boosting domestic production. The proposal would represent a rollback of a key economic policy amid concerns about affordability and political consequences from recent Democratic election victories tied to cost-of-living worries. The potential changes go beyond a prior September executive order and could alter tariff coverage and trade relationships.

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