Trump reverses course and cuts tariffs on US food imports

Core Points - Donald Trump has issued an executive order to lower tariffs on food imports, including beef, tomatoes, coffee, and bananas, in response to rising cost concerns [1][2] - The new exemptions will take effect retroactively and represent a significant policy shift for Trump, who previously denied that his tariffs contributed to inflation [2][3] - The decision follows recent electoral victories for Democrats, where affordability was a major issue, indicating a political response to public sentiment [2][6] Tariff Changes - The executive order marks a reversal from earlier policies, as Trump had imposed a 10% base tariff on imports from all countries earlier this year [4] - A deal has been announced to reduce US tariffs on Switzerland from 39% to 15%, along with plans to eliminate tariffs on certain food imports from Argentina, Ecuador, Guatemala, and El Salvador [5] Economic Context - Trump has been emphasizing affordability while attributing rising costs to Biden's policies, despite evidence suggesting that his tariffs have contributed to higher grocery prices [6][7] - A Harris poll indicated that a majority of Americans report monthly cost increases between $100 and $749, reflecting widespread economic frustration [7] - Critics, including House Democrats, argue that the Trump administration is acknowledging the negative impact of its own trade policies on consumer costs [7][8]