Trump cuts tariffs on beef, coffee and other foods as inflation concerns mount

WASHINGTON - US President Donald Trump on Nov 14 rolled back tariffs on dozens of food products, including such staples as

beef, tomatoes and bananas,

in the face of growing angst among American consumers about the high cost of groceries.

The new exemptions – which take effect retroactively at midnight on Nov 13 – mark a sharp reversal for Mr Trump, who has long insisted that the sweeping import duties he imposed earlier in 2025 are not fuelling inflation.

The US President has upended the global trading system by imposing

a 10 per cent base tariff on imports from every country,

plus additional specific duties that vary from country to country.

“They may in some cases” raise prices, Mr Trump said when pressed on his tariffs helping to increase consumer prices aboard Air Force One on the evening of Nov 14. But he insisted that overall, the US has “virtually no inflation”.

Democrats have won a string of victories in state and local elections in Virginia, New Jersey and New York City, where affordability was a key topic.

Consumers have remained frustrated over high grocery prices, which economists say have been fuelled in part by the tariffs and could rise further in 2026 as companies start passing on the full brunt of the duties.

The Nov 14 order followed framework trade deals announced on Nov 13 that will eliminate tariffs on certain foods and other items imported from Argentina, Ecuador, Guatemala and El Salvador, once those deals are finalised, with US officials eyeing additional deals for signing before year’s end.

The list includes products US consumers routinely purchase to feed their families at home, many of which have seen double-digit year-on-year price increases.

Minced beef, as at the latest available data for September, was nearly 13 per cent more expensive, according to Consumer Price Index data, and steaks cost almost 17 per cent more than a year ago.

Increases for both were the largest in more than three years, dating back to when inflation was nearing its peak under Mr Trump’s predecessor, Democrat Joe Biden.

Banana prices were about 7 per cent higher, while tomatoes were 1 per cent higher. Overall costs for food consumed at home were up 2.7 per cent in September.

The tariff exemptions won praise from many industry groups, while some expressed disappointment that their products were excluded from the exemptions.

“Today’s action should help consumers, whose morning cup of coffee will hopefully become more affordable, as well as US manufacturers, which utilise many of these products in their supply chains and production lines,” FMI-Food Industry Association president Leslie Sarasin said in a statement.

Distilled Spirits Council president Chris Swonger said that excluding spirits from the European Union and Britain “is yet another blow to the US hospitality industry just as the critical holiday season kicks into high gear”.

“Scotch, cognac and Irish whiskey are value-added agricultural products that cannot be produced in the United States,” Mr Swonger added.

Asked if further changes were planned, Mr Trump told reporters aboard Air Force One: “I don’t think it’ll be necessary.”

“We just did a little bit of a rollback,” he said. “The prices of coffee were a little bit high, now they’ll be on the low side in a very short period.”

Mr Trump has focused squarely on the issue of affordability in recent weeks, while continuing to insist that any higher costs were triggered by policies enacted by Mr Biden, and not his own tariff policies.

The top Democrat on the House of Representatives Ways and Means Committee, Mr Richard Neal, said the Trump administration was “putting out a fire that they started and claiming it as progress”.

“The Trump administration is finally admitting publicly what we’ve all known from the start: Trump’s trade war is hiking costs on people,” Mr Neal said in a statement. “Since implementing these tariffs, inflation has increased and manufacturing has contracted month after month.” REUTERS