Trump Yields to Inflation; Lowers Tariffs for Select Latin American Countries
According to webangah News Agency, citing mehr News Agency and the American magazine Politico, a White House insider announced new trade agreements with four South and Central American countries. These deals could lead to reduced import tariffs on goods such as coffee, bananas, and beef.
The senior official from the Trump administration stated that these agreements will be finalized within two weeks,with potential for more deals by year-end.
The Trump administration has signed new trade agreements with Argentina, Guatemala, El Salvador, and Ecuador. Under these accords, tariffs on some products-including Argentine beef, coffee, and bananas-will be lowered.
In the agreement with Argentina specifically, beef will be exempted from the 10 percent tariff; though, export quotas for beef will remain unchanged.
Overall tariff levels on products remain the same: goods from Argentina, Guatemala, and El Salvador continue to face a 10 percent tariff while Ecuadorian products are subject to a 15 percent levy.
Trump’s economic advisors said that reducing tariffs is part of efforts to bring down prices.As an inevitable result, prices for items like coffee and bananas might decrease. This move aligns with America’s broader policy of reciprocal tariffs.
