Overview
- Treasury Secretary Scott Bessent said “substantial announcements” are coming within days to lower prices on goods the U.S. does not produce domestically, citing coffee and bananas.
- President Donald Trump stated that some tariffs on coffee imports will be reduced, echoing earlier hints of targeted relief.
- The administration has not detailed which countries or tariff lines will change, with National Economic Council Director Kevin Hassett saying food-duty adjustments are under discussion.
- Coffee prices fell on Nov. 12 after signals of potential tariff reductions, reflecting market expectations of policy easing.
- Coffee costs have climbed roughly 19% year over year following broad 2025 tariffs, including a 50% duty on Brazilian goods, while the broader tariff program faces unresolved Supreme Court review.