Trump Administration Plans Tariff Relief on Coffee, Bananas
The Trump administration is preparing to reduce tariffs on select imported goods, including Brazilian coffee beans and bananas, Treasury Secretary Scott Bessent announced Thursday on “Fox & Friends.”
“You’re gonna see substantial announcements over the next couple of days in terms of things we don’t grow here in the United States, coffee being one of them,” Mr. Bessent said. “Bananas, other fruits, things like that.”
“That will bring the prices down very quickly,” he said.
The move follows a 50% tariff on Brazil and other nations aimed at supporting U.S. industries, though the U.S. recorded a nearly $7 billion trade surplus with Brazil in 2024. The average price of ground coffee rose to $9.14 per pound in September, up 41% from the prior year, due in part to weather disruptions and trade policies.
Targeted Relief for Non-Domestic Products
Mr. Trump signed an executive order in September that signaled he might modify tariffs on products that “cannot be grown, mined or naturally produced” in the U.S., or cannot be made in amounts that satisfy domestic demand.
He also teased moves to lower coffee tariffs in a Tuesday interview with Laura Ingraham of Fox News.
“Coffee, we’re going to lower some tariffs. We’re going to have some coffee come in,” Mr. Trump said. “We’re going to take care of all of this stuff, very quickly, very easily.”
The administration has also endorsed increased imports of Argentine meat and directed the Justice Department to investigate potential collusion among foreign-owned meatpackers to address rising beef prices.
Broader Affordability Measures Under Review
White House press secretary Karoline Leavitt said Wednesday that President Trump has taken “aggressive actions” on affordability, including deregulation to reduce energy costs and agreements with pharmaceutical companies to lower drug prices.
A proposed $2,000 tariff rebate check for households earning under $100,000 is under discussion but would require congressional approval.
“That would be for families making less than, say, $100,000,” Mr. Bessent said, adding that nothing is final. “It’s in discussion.”
Ms. Leavitt said Mr. Trump is serious about the tariff dividend.
“The White House is committed to making that happen,” Ms. Leavitt said. “We are currently exploring all legal options to get that done.”
The Distilled Spirits Council urged inclusion of EU-origin spirits like Scotch and Irish whiskey in any tariff relief, citing benefits for the U.S. hospitality sector.
“Many spirits, including Scotch, cognac and Irish whiskey, are distinctive products that can only be made in their country of origin,” said Distilled Spirits Council CEO Chris Swonger on Wednesday. “A return to zero-for-zero tariffs on U.K. and EU distilled spirits products will boost the struggling U.S. hospitality industry just as the important holiday season begins.”
Mr. Bessent said Mr. Trump inherited a price crisis from Mr. Biden and that current policies will jump-start U.S. manufacturing and deliver high wages for Americans.
