Washington intends to reduce customs duties on basic consumer goods to ease inflationary pressures
US Treasury Secretary, Scott Besent, announced that the US administration intends to soon announce “significant” cuts. In customs duties on a number of basic consumer goods, as part of efforts to reduce prices and alleviate inflationary pressures on citizens.
Besant explained, in an interview with Fox News, that the decision will include goods that are not produced locally, such as coffee, bananas, and some types of fruit, stressing that these reductions will contribute to reducing prices quickly and significantly.
This statement comes after US President Donald Trump confirmed his intention to reduce duties on coffee imports, Pointing out that his administration is working to address these files “quickly and easily.”
The Treasury Minister indicated that the administration expects citizens to begin to feel economic improvement during the first or second quarter of 2026, pointing to the rise in inflation rates since last April to reach 3% in September, as a result of the new customs policies.
Brazil is the largest exporter of coffee to the United States, followed by Guatemala, Ecuador, Honduras, and Costa Rica, which also export. Banana. Trump had raised duties on imports from Brazil to 50% last July against the backdrop of political and judicial tensions between the two countries.
Trump confirmed during his recent meeting with Brazilian President Luiz Inacio Lula da Silva that he expects to reach an agreement soon regarding reducing customs duties between the two sides.
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