Trump Plans Significant Tariff Cuts and Announces Framework Agreements with Multiple Countries

US President Trump is preparing to substantially reduce tariffs and promote a series of new trade agreements—including framework deals with Argentina, Guatemala, El Salvador, and Ecuador—in response to voters' concerns about the high cost of living, particularly food prices.

This move was initiated after Democrats won in several key states and local elections last week, where Democratic candidates focused their campaigns on "affordable living costs." The trade agreements with Latin American countries announced on Thursday aim to reduce the shopping bills that have been troubling Americans in recent years by lowering tariffs and trade barriers on everyday foods such as beef, bananas, and coffee beans.

At the same time, Trump and other senior officials in his administration have also hinted at broader tariff exemption measures, which could lead to widespread reductions in tariffs on popular food items. Earlier this week, in an interview, Trump promised to "cut some coffee tariffs," while Treasury Secretary Scott Bessent stated that fruit imports would also receive relief.

Kevin Hassett, Director of the White House National Economic Council, said at an event on Wednesday, "One thing that has been discussed a lot these days is considering adjustments to food-related tariffs."

Additionally, reports indicate that Trump is preparing to adjust "reciprocal tariffs," with exemptions expected for beef and citrus products, going further than a previous executive order. That order had required administration officials to identify foods not produced domestically in the U.S. for tariff exemptions.

White House spokesman Kush Desai stated in a declaration, "The Trump administration is committed to a flexible, nuanced, and multi-layered strategy on trade and tariff issues."

Desai mentioned that potential changes would come partly from products identified under the presidential executive order and partly from "trade agreements signed with some of our most important allies in the Western Hemisphere."