Trump Rolls Back Tariffs On Beef, Coffee And Other Foods To Address High Prices

President Trump just introduced new exemptions within his tariff program, rolling back duties on a range of food items in a bid to curb rising consumer costs.

Under a newly signed executive order, several agricultural and food products will no longer be subject to reciprocal tariffs. The list spans beef, beans, nuts, fruits and vegetables such as tomatoes and bananas, as well as tea, coffee, and various spices.

“We just did a little bit of a rollback on some foods like coffee,” Trump told reporters aboard Air Force One.

The President acknowledged that his trade policies have, at times, increased costs for Americans.

“I say they may, in some cases,” the President said, adding, “But to a large extent they’ve been borne by other countries.”

The White House also announced a new tariff agreement with Switzerland, under which the U.S. plans to reduce its tariff rate to 15%. Switzerland, in turn, will lower duties on certain industrial and agricultural goods, while Swiss companies are expected to invest roughly $200 billion in the United States.

“We expect that by the end of President Trump’s term, the trade deficit with Switzerland will be eliminated because of these kinds of moves,” said Jamieson Greer of the U.S. Trade Representative’s office. “Switzerland has agreed to eliminate all industrial tariffs and expand market access for U.S. products such as poultry, pork, beef, seafood, and more. It’s an exciting opportunity.”

Source: WPTV5 News