Trump to Cut Tariffs on Beef, Tomatoes, Coffee to Lower Prices

Core Viewpoint - The U.S. government is adjusting tariffs to address an affordability crisis, particularly focusing on food products that are either not produced domestically or produced in insufficient quantities Tariff Exclusions - The president is expected to sign an order today to eliminate or reduce tariffs on certain food products, including beef, coffee, bananas, and tomatoes [2][5] - There is uncertainty regarding the scope of these exclusions, including the number of food items affected and the countries involved [6] U.S.-Switzerland Trade Agreement - A preliminary trade agreement has been reached between the U.S. and Switzerland to lower tariffs on Swiss goods, notably reducing the tariff on watches from 39% to 15% [7][8] - Switzerland has committed to a $200 billion investment pledge over five years, with $67 billion allocated for the next year in the U.S. [9] Broader Trade Context - The agreement with Switzerland is part of a broader strategy to finalize trade deals with various countries, with India being a notable exception where negotiations have stalled [11][14] - The U.S. is also working on trade agreements with other Central and South American countries, indicating a push to finalize outstanding deals [10][11]