Overview
- Treasury Secretary Scott Bessent said on Fox & Friends that “substantial announcements” will come in the next few days to lower costs on items the U.S. doesn’t grow, citing coffee, bananas and other fruits.
- President Donald Trump said the U.S. will lower some tariffs on coffee imports, with Brazil and Vietnam referenced by officials, though specific measures have not been detailed.
- Coffee prices have climbed 18.9% over the past year in CPI data and banana prices are up nearly 7%, following tariff hikes and supply pressures on major exporters.
- Bessent said consumers should start feeling better about prices and incomes in the first half of 2026, pointing to targeted import relief and previously announced income measures.
- The White House is discussing $2,000 tariff-funded rebate checks for people earning under $100,000 with no decision yet, as the Supreme Court weighs the scope of presidential tariff authority.