Overview
- Treasury Secretary Scott Bessent said "substantial" tariff-relief announcements targeting items the U.S. does not grow—such as coffee and bananas—will arrive in coming days, with specifics not yet provided.
- President Donald Trump said the U.S. will lower some tariffs on coffee imports.
- Bessent said the measures should reduce prices quickly, with households starting to feel better about the economy in the first half of 2026.
- The policy pivot follows earlier tariff hikes, including a 50% duty on Brazilian goods in July, alongside a Brazilian drought that helped push coffee futures up about 20% this year and roughly 45% over 12 months.
- Officials are also discussing a $2,000 rebate for people earning under $100,000, which Bessent characterized as still under discussion.