Trump Focusing On Affordability: Commerce Secretary Reveals Why Trump Is Easing Some Tariffs
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Donald Trump is easing tariffs on agricultural products from Brazil.
Key food imports will no longer face a tariff.
President Donald Trump eliminated tariffs on agricultural products from Brazil with an executive order on Thursday, his latest move to try to lower grocery prices.
This means key food imports from Brazil, like coffee and beef, which were subject to 40% tariff rates, will now enter the U.S. tariff-free.
“After considering the information and recommendations these officials have provided to me and the status of negotiations with the Government of Brazil, among other things, I have determined that it is necessary and appropriate to modify the scope of products subject to the additional ad valorem rate of duty imposed under Executive Order 14323,” the order said.
Commerce Secretary Howard Lutnick revealed why Trump decided to ease these tariffs.
Lutnick said, “And what happened is the President said, look, it’s been six months, it’s time, let’s just wipe the slate clean, if people haven’t made deals with these smaller countries, it’s okay, let’s cut the price on all these unavailable natural resources and let’s focus on affordability.”
Lutnick said, “[W]hen we started this process on April 2, he wanted — as you know — trade deals, let’s just go make trade deals. If a country makes a trade deal, we’ll give them coffee, we’ll give them cocoa, we’ll give them bananas, we’ll give them papayas, we’ll give them generic drugs, we’ll give them all these different things if they do a trade deal with us to make sure our exporters — if you produce in America, you can export your goods, finally the President has got your back and let you manufacture in America and sell it, alright.”
He continued, “And what happened is the President said, look, it’s been six months, it’s time, let’s just wipe the slate clean, if people haven’t made deals with these smaller countries, it’s okay, let’s cut the price on all these unavailable natural resources and let’s focus on affordability.”
You can watch the full interview here.
Trump is building on his successful economic agenda.
