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Donald Trump Slashes Food Tariffs Amid Rising Inflation

Trump’s exemptions arrived a day after the United States reached trade framework agreements with four Latin American countries. It includes 10 per cent tariffs on most goods from Argentina, Guatemala, and El Salvador, while 15 per cent tariffs from Ecuador. According to the new trade agreements, duties were also removed on certain products not grown or produced in the US in sufficient quantities, such as bananas and coffee. The latest announcement, on 200 items, is expected to bring the prices down. The items range from oranges, acai berries, and paprika to cocoa, chemicals used in food production, fertilizers, and even communion wafers.

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Switzerland Wins 15% US Tariff Cut

In an official statement, the Swiss government said that the tariff agreement will reduce Swiss import duties on US industrial products, fish and seafood and agricultural products. According to the deal, the US would impose only a 15 per cent tariff ceiling for Swiss pharmaceutical producers and semiconductors. Apart from this, Switzerland would grant the US duty-free bilateral tariff quotas on 500 tons of beef. Also, 1,000 tons of bison meat and 1,500 tons of poultry meat would be duty-free for the US.

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