Trump lowers tariffs on coffee, beef and fruits

President Trump signed an executive order lowering tariffs on several agricultural imports, including beef, coffee, and bananas. The adjustments, effective retroactively, remove certain "reciprocal" tariff rates, which can reach up to 50%.

However, goods like Mexican tomatoes will still face tariffs, currently at 17%. These changes come amid rising prices for these commodities, primarily due to past tariffs and insufficient domestic supply.

This move follows voter concerns about the economy in recent elections, reflecting economic pressure. The administration also established a trade framework to lower Swiss tariffs from 39% to 15%.