BUSINESS

US signals tariff relief on coffee bananas

Treasury Secretary Scott Bessent said “substantial” tariff relief on everyday imports is coming soon, targeting items the U.S. does not grow, such as coffee, bananas and other fruit. He said the move should lower prices quickly. President Donald Trump also pledged to cut coffee duties and signaled a fast resolution with Brazil, the top U.S. coffee supplier, after raising tariffs on Brazil to 50% in July. Inflation has climbed each month since April to 3% in September, while coffee futures have jumped about 20% this year and roughly 45% over 12 months. Bessent sees sentiment improving by early 2026.

Reviewed by JQJO team

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