- Trump rolls back food tariffs as consumers face rising grocery costs.
- Tariff reversal signals shift amid Democratic wins driven by affordability concerns.
- U.S. plans new trade deals removing select import duties from Latin America.
U.S. President Donald Trump rolled back tariffs on many food items, including essentials such as beef, tomatoes, and bananas, due to rising concerns among American consumers regarding the high grocery prices.
The recent exemptions represent a significant turnaround for Trump, who has consistently claimed that the extensive import tariffs he enacted earlier this year are not driving inflation. Democrats have secured a series of wins in state and local contests in Virginia, New Jersey, and New York City, where affordability issues were a significant factor.
The Trump administration revealed trade agreements that, when completed, will remove tariffs on specific foods and other imports from Argentina, Ecuador, Guatemala, and El Salvador, as U.S. officials are looking for more deals before the year concludes.
Friday's inventory features items that American consumers frequently buy to provide food for their households, many of which have experienced double-digit increases compared to the previous year.
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As per the most recent data from September, ground beef was around 13% pricier, based on Consumer Price Index figures, while steaks were approximately 17% higher compared to a year earlier. The rises for both were the highest in over three years, going back to when inflation was approaching its peak under Trump's predecessor, Democrat Joe Biden. Banana prices increased by approximately 7%, whereas tomatoes rose by 1%. Total expenses for food eaten at home increased by 2.7% in September.
Trump has disrupted the global trading framework by enforcing a 10% baseline tariff on imports from all nations, along with extra specific duties that differ from state to state. In recent weeks, Trump has concentrated primarily on the matter of affordability, asserting that any increased costs resulted from policies implemented by Biden, rather than from his own tariff measures.