Overview
- President Trump signed an order removing 40% tariffs on Brazilian food products such as beef, coffee, cocoa and fruits, effective for imports on or after Nov. 13, with potential duty refunds on goods already assessed.
- The White House last week exempted more than 200 agricultural and processed food items from the April tariff regime, targeting staples including coffee, tea, tropical fruit, fruit juices, cocoa, spices, tomatoes and beef.
- Industry experts say current inventories and logistics mean shoppers will not see immediate price cuts, with any savings likely to appear gradually and vary by product.
- Delayed Commerce Department data show August imports fell about 5.1% as tariffs took effect, narrowing the U.S. trade deficit nearly 24% to $59.6 billion.
- The Congressional Budget Office lowered projected deficit reduction from the tariff program to $3 trillion through 2035 as the Supreme Court considers challenges to the president’s tariff authority.