US EditionBessent teases announcements to cut cost of coffee, fruits
- On Wednesday, Treasury Secretary Scott Bessent said substantial tariff relief will be announced shortly to lower prices on coffee, bananas and other fruits, with the White House promising it "will bring prices down very quickly."
- Rising duties and supply shocks have pushed coffee prices up after President Donald Trump raised tariffs on Brazilian goods to 50% in July atop an existing 10% levy, while the U.S. Supreme Court reviews the tariff authority.
- Bessent, speaking to Fox News, acknowledged it is tough to outline specific steps while promising announcements, as President Donald Trump told Fox News, `Coffee, we're going to lower some tariffs`.
- Bessent expects consumers will feel better about inflation in early 2026 as affordability resurged in recent elections and the U.S. relies on Brazil for nearly all its coffee imports.
- Market data show coffee futures jumped around 20% this year and nearly 45% over 12 months, while top banana exporters to the U.S. include Guatemala, Ecuador, Honduras and Costa Rica.
33 Articles
33 Articles
Treasury's Bessent says 'substantial' relief on coffee, bananas prices coming soon
Treasury Secretary Scott Bessent said Wednesday that the Trump administration will soon announce actions that will reduce prices on some grocery items."You're going to see [a] substantial announcement over the next couple of days in terms of things we don't grow here in the United States. Coffee, coffee being one of them. Bananas, other fruits, things… that will bring the prices down very quickly," Bessent said during an interview on "Fox & Frie…
Sorry, America. Coffee prices probably aren’t coming down
With renewed verve for the word “affordability” after the GOP got absolutely trounced in last week’s off-year elections, the Trump administration is scrambling to show it’s doing something, anything, to bring prices down.
Scott Bessent anticipated a series of economic measures to help lower the prices of some groceries. Following the Republican defeats of November 4 in various states, the cost of living became one of the central themes of the public debate. Even the presenter Bill O'Reilly recommended to the Trump administration the designation of a "cost of living." In this context, the Treasury Secretary spoke to Fox News and anticipated a 2026 "spectacular." R…
Treasury Secretary Scott Bessent anticipates that Donald Trump's government will soon announce reductions in import tariffs on coffee, bananas and other foods, in response to the unrest of those pressured by the cost of living, which caused Republican setbacks in the state elections last week. "In the next few days there will be some important announcements regarding products that we do not grow here in the United States, such as coffee, bananas…
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