Treasury Secretary Scott Bessent says “substantial” tariff cuts are coming soon for everyday imports the U.S. doesn’t produce, including coffee, bananas, and other fruits.
Trump has promised lower tariffs on coffee after earlier hiking duties on Brazil to 50%, a move that, alongside drought, helped push coffee futures up about 20% this year and 45% over 12 months.
Inflation has risen every month since Trump’s latest tariff push, reaching 3% in September, and the administration now hopes targeted tariff relief will help ease prices by early to mid-2026.
Treasury Secretary Scott Bessent said on Wednesday that the administration is preparing substantial tariff relief on a range of everyday consumer goods, with a particular focus on products the U.S. doesn’t produce domestically.
Speaking on Fox News Channel, Bessent acknowledged that it’s “tough to do a lot of specific things,” but confirmed that the White House is moving to cut duties on items like coffee, bananas, and other imported fruits. He didn’t lay out the exact mechanism or timeline, but was clear on the intended outcome:
“That will bring prices down very quickly,” Bessent told Fox & Friends.
His comments come as the administration faces growing pressure over rising living costs and frustration over the impact of tariffs on grocery prices.
Trump Promises Coffee Tariff Cuts as Prices Surge
President Donald Trump has also been leaning into the message of relief at the checkout aisle. In a Fox News appearance Tuesday night, he specifically called out coffee as a target for tariff reductions, saying:
“Coffee, we’re going to lower some tariffs. We’re going to have some coffee come in.”
He followed that up by insisting, “We’re going to take care of this stuff very quickly, very easily,” framing the move as a straightforward fix to elevated prices.
In reality, the backdrop is more complicated. The U.S. doesn’t grow coffee at scale, and Brazil is the top supplier of coffee imports, according to USDA data. On the banana side, countries like Guatemala, Ecuador, Honduras, and Costa Rica dominate shipments into the U.S.
Trump raised tariffs on Brazil to 50% in July, partly in response to legal pressure on his political ally, former Brazilian president Jair Bolsonaro, and amid long-running complaints about how Brazilian courts treat U.S. tech firms. Those higher duties, combined with a drought in Brazil, have helped push coffee prices sharply higher. Coffee futures traded in New York are up roughly 20% this year, and nearly 45% over the last 12 months.
Standing next to Brazil’s President Luiz Inácio Lula da Silva on Oct. 26, who openly urged Trump to lower duties on Brazilian exports, Trump signaled openness to a reset:
“I think we’ll make a deal with Brazil,” he said, adding that he expects they’ll “probably come to a conclusion pretty quickly” on lower tariffs.
Inflation Pressures and the Politics of Tariff Relief
Bessent also tried to reassure households that the inflation picture will improve over the medium term. He said he expects “the American people are going to start feeling better” about inflation in the first or second quarter of 2026, hinting that tariff cuts are part of a broader plan to cool price pressures.
Inflation in the U.S. has been ticking higher every month since April, when Trump rolled out his sweeping tariff agenda. By September, inflation had hit 3%, adding strain for families already dealing with more expensive food, fuel, and services.
That’s why consumer-focused tariff relief on staples like coffee and fruit is politically significant. It allows the administration to keep its broader tough-on-trade posture while carving out some practical exceptions that show up in everyday shopping carts.
Whether the planned cuts are large and fast enough to offset the earlier hikes—and how quickly they actually translate into lower shelf prices—will depend on the final details and how commodity markets respond. For now, the message from the administration is clear: tariff relief is coming, and they want voters to connect that directly to easing inflation at home.
Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.
