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Dow Jones NewsNov 14, 4:05 AM UTC
DJ U.S. to Cut Tariffs on Bananas, Coffee and Other Goods From Four Countries -- Update
By Gavin Bade
The U.S. plans to eliminate tariffs on bananas, coffee, beef and certain apparel and textile products under framework agreements with four Latin American nations, a senior administration official told reporters Thursday.
The expected move -- which would apply to some goods from Ecuador, Argentina, El Salvador and Guatemala -- is part of a shift from the Trump administration to water down some of its so-called reciprocal tariffs in the face of rising prices for consumers, as well as legal uncertainty after a Supreme Court hearing this month.
The administration in September foreshadowed the move by issuing an executive order saying it would consider a reduction in tariffs on some items not produced in the U.S. when foreign nations agree to trade deals with Washington.
Treasury Secretary Scott Bessent said this week that the administration was working to reduce prices on those agricultural goods and other items.
"You're going to see some substantial announcements over the next couple of days in terms of things we don't grow here in the United States, coffee being one of them, bananas, other fruits, things like that," Bessent told Fox News on Wednesday. "That will bring the prices down very quickly."
On Thursday, the administration released joint statements with the four Latin American countries, saying that the U.S. would reduce tariffs on a variety of goods not produced domestically. A senior administration official told reporters those products would include bananas and coffee from Ecuador, along with beef from Argentina.
Trump has said in recent weeks that he would consider boosting beef imports from Argentina in an effort to relieve rising prices for American consumers, sparking backlash from ranchers and farm-state lawmakers in Congress. The senior official said that Trump's team isn't planning for government-sponsored shipments of beef from the nation to the U.S., but that officials expect to reduce tariffs on the product in the weeks to come.
The joint statements say the administration will also reduce tariffs on certain textile and apparel products from Guatemala and El Salvador that had been covered by a free-trade agreement with those countries. Other products that will receive tariff-free treatment come from a list published along with the September executive order.
The U.S. tariff rates on other products from those countries will remain the same: 15% for Ecuador and 10% for Argentina, Guatemala and El Salvador. Additionally, those countries will reduce regulations and license requirements on U.S. companies, and coordinate with Washington on trade with nonmarket economies such as China.
Details on the deals are expected to be released in the coming weeks, the official said.
Write to Gavin Bade at gavin.bade@wsj.com
(END) Dow Jones Newswires
November 13, 2025 23:05 ET (04:05 GMT)
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