Donald Trump administration’s has reached trade agreements with four Latin American countries that will hopefully lower the price of bananas, coffee, and chocolate for American buyers.
These agreements “commit the United States to removing the president’s reciprocal tariffs on certain exports that cannot be grown, mined, or produced in sufficient quantities” in the USA.
Coffee has become more of a luxury good than ever, due to Brazil’s devastating droughts. It also remains in huge popular demand. As such, it was what Tu,p mentioned first in an interview on the matter.
Since last year, the price of coffee has jumped by 19%.
Bananas, meanwhile, have seen a 7% increase.
The USA imports 99% of its coffee.
When Brazil opened a criminal case against its former President Bolsonaro, Trump punished Brazil with a 50% tariff.
Colombia, meanwhile, also exports much of the US’s coffee, but is at a 10% tariff presently. So are Guatemala and El Salvador.
Ecuador has a 15% tariff right now.
In the same transaction involving these reduced specific tariffs, the USA also reached an agreement with Argentina, in which Argentina would open to US cattle and poultry.
This seems to come after widespread complaints about the present cost of living in the USA.
