WASHINGTON.- Donald Trumppresident of the United States, announced this Friday the elimination of tariffs for beef, coffee, tropical fruits and a wide range of basic products.
A drastic move that comes amid growing pressure on his administration to better combat the high consumer prices.
Trump’s second term and tariffs
The American president has built his second term around the imposition of heavy levies on goods imported into the United States in hopes of encouraging domestic production and reviving the American economy.
It should be noted that the abrupt retreat of its emblematic tariff policy in so many key commodities for the American diet is significant, comes after voters in the midterm elections this month will cite economic concerns as their main problem.
This resulted in big victories for Democrats in Virginia, New Jersey and other key races across the country.
Despite Trump’s claims that inflation has disappeared since he took office in January, it remains elevated, increasing further the pressure on American consumers.
Tariffs did not contribute to price increases
According to Trump, his tariffs have helped fill government coffers and were not a major factor in rising prices in grocery stores across the country.
But Democrats were quick to paint Friday’s move as a recognition that the republican policies They were hurting the pockets of Americans.
In a statement the Virginia Democratic Representative Don Beyer noted that “President Trump is finally admitting what we always knew: his tariffs are raising prices for the American people.”
“After being defeated in the recent election due to voter fury that Trump has broken his promises to fix inflation. The White House is trying to present this tariff rollback as a ‘turn towards affordability’“.
The president imposed tariffs on most countries in April. He and his administration still say such taxes do not increase consumer prices, despite economic evidence to the contrary.
Record prices in beef
It should be noted that the record beef prices have been a particular concern, and Trump has said he intended to take steps to try to reduce them.
Trump’s tariffs on Brazil, a major beef exporter, have been a factor.
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Likewise, Trump signed an executive order that also eliminates tariffs on tea, fruit juice, cocoa, spices, bananasoranges, tomatoes and certain fertilizers.
Some of the products covered are not produced in the United States, meaning that tariffs intended to encourage domestic production had little effect.
But reducing tariffs will likely mean lower prices for American consumers.
Retailers and producers applaud Trump’s decision
For its part, the Food Industry Associationwhich represents retailers, producers and a variety of industry-related businesses and services, applauded Trump’s move.
They pointed out that it represents a “rapid tariff relief”indicated that import taxes “are an important factor” in a “complex mix” of supply chain problems.
The association, in a statement, noted that “President Trump’s proclamation to reduce tariffs on a substantial volume of food imports is a critical step to ensure adequate supply continued at prices that consumers can afford.”
The White House said some of the original levies Trump imposed on nearly all countries months ago were no longer necessary.
The above derived from the trade agreements that the president had since negotiated with key trade partners of the United States.
Agreements with Latin American countries
Friday’s announcement follows framework agreements the Trump administration reached with Ecuador, Guatemala, El Salvador and Argentina.
Such agreements are intended to increase the ability of American companies to sell industrial and agricultural products in those countries.
While potentially easing tariffs on agricultural products produced there.
Likewise during an interview that aired earlier this week with Laura Ingraham of Fox News ChannelTrump hinted that lower tariffs could be coming.
“On coffee, we are going to lower some tariffs,” the president said then.. “Let’s get some coffee in.”.