Overview
- U.S. Trade Representative Jamieson Greer said tariffs on items largely not produced domestically, such as bananas, coffee and cocoa, may be unnecessary as the administration recalibrates policy.
- Treasury Secretary Scott Bessent forecast imminent announcements to ease or exempt tariffs on select imported foods, with a September executive order cited as the basis for targeted relief.
- People briefed on the plans told the New York Times that citrus and beef are under review for possible exemptions, though no final decision has been made and ranchers have raised concerns.
- The White House is actively weighing $2,000 tariff-rebate checks, a proposal that would require congressional approval and that economists warn could fuel inflation by boosting demand.
- Officials are also exploring 50-year and portable mortgages intended to lower monthly payments, a step critics say could increase lifetime interest costs and complicate mortgage markets.