President Trump signed an order on Friday reducing tariffs on goods including beef, tomatoes, coffee and bananas, Bloomberg reports, to lower costs on some everyday goods that consumers are struggling with.
The tariff cuts come alongside a series of new trade deals, which include framework agreements with Argentina, Guatemala, El Salvador, and Ecuador. Trump and top officials, including Treasury Secretary Scott Bessent, have in recent days previewed broader tariff exemptions that could cut levies on popular foods.
US Trade Representative Jamieson Greer first mentioned the plan earlier Friday, saying it fit with Trump’s broader strategy.
“Now is the right time to, you know, to release some of these items the president said he was going to release,” Greer said. “This is a natural outgrowth of exactly what the present signaled, and that’s what he’s doing today.”
The push to reduce food prices comes after electoral wins for Democrats across a number of key state and local races where candidates stressed affordability concerns. Trump has also in recent days floated the possibility of a tariff “dividend” for many Americans.
Trump recently acknowledged that US consumers are “paying something” for his tariffs, the bulk of which face a looming verdict from the Supreme Court.
In a closely watched case, a majority of the justices — both the court’s three liberal-leaning justices, as well as three more conservative ones — offered skeptical questions regarding the president’s authority to impose his most sweeping duties. If the Supreme Court does not side with Trump, it’s widely expected that the administration will seek out alternative methods to carry out the US trade agenda.
Read more: What Trump’s tariffs mean for the economy and your wallet
The US and Switzerland have agreed to a deal to lower tariffs on Swiss imports to 15%, from a 39% level that had shocked the country over the summer. Switzerland will invest $200 billion in the US, the White House said.
The EU said it will propose a plan to the US that would allow the next phase of the trade agreement to be implemented.
Brazil said it hopes to reach a preliminary trade deal with the US this month, as relations between the two sides improve.
67% of Canadians say it’s unlikely a deal to lower US tariffs will be achieved in the next six months, according to a poll by Nanos Research Group for Bloomberg News.
The US and China reached a trade truce. The thaw means China will suspend additional export controls on rare earth metals and end investigations into US chip companies. As part of the deal, the US will pause some of Trump’s “reciprocal tariffs” on China for another year. (Read more: What are rare earth minerals, and why are they important?)
Trump said that “at some point,” he would reduce the tariff rate on Indian goods, and that the US was getting “close” to a trade deal with New Delhi.
LIVE 47 updates Fri, November 14, 2025 at 7:53 PM UTC Trump signs order to ease tariffs on beef, coffee, bananas and tomatoes
President Trump signed an order on Friday reducing tariffs on goods including beef, tomatoes, coffee and bananas, Bloomberg reports, to lower costs on some everyday goods that consumers are struggling with.
After several months of dialogue the US confirmed on Friday that a deal with Switzerland has “essentially” been reached. This agreement will lead to lower tariffs on Swiss goods from 39% to 15%.
The White House plans to reveal further details and US Trade Representative Jamieson Greer said in an interview with CNBC that more will be posted today.
This latest trade deal will bring some relief to Switzerland, which has been hard hit by President Trump’s tariffs.
Bloomberg News reports:
From beef to bananas, the US consumer is feeling the pinch from high prices on some of these everyday food items. President Trump and US Treasury Secretary Scott Bessent have been hinting all week about lowering tariffs on some key food groups in a bid to ease rising prices.
A series of new trade deals, which include a framework agreement with Argentina, Guatemala, El Salvador, and Ecuador, aim to address high prices and affordability concerns.
The latest move from the Trump administration comes a week after electoral victories for Democrats across a number of key state and local races, where candidates stressed affordability worries.
Bloomberg News reports:
The European Union is planning to propose a plan to the US that would start the next phase of the trade agreement the two sides reached back in July, according to people familiar with the matter.
EU’s trade chief, Maros Sefcovic, is due to meet with his US counterpart this month and is keen to implement the next phase.
This latest move from the EU follows proposals Washington sent Brussels earlier this year, where a legally binding plan to revise EU regulations it said hurt US businesses was requested.
Bloomberg News:
It’s been less than two weeks since the US and China agreed on a one-year trade truce, which covers several key areas, including soybeans and rare earths. The two largest economies in the world reached an agreement either to increase purchases or reduce export restrictions. Trade tensions started to simmer down, and investors could once again relax — until now.
Morgan Stanley (MS) has issued a warning to the markets, advising them not to become too complacent and to remain prepared for trade tensions to flare up again.
Business Insider reports:
Wed, November 12, 2025 at 8:30 PM UTC Trump plans move to ease prices on coffee and bananas: Bessent
China has overstocked on soybeans after months of record imports, which could hinder US export hopes despite a trade truce that Washington said included a promise by Beijing to start buying soybeans again.
Reuters reports:
President Trump said on Monday that the US faced economic and national security disaster if the Supreme Court ruled against his use of emergency powers to impose his “Liberation Day” tariffs.
Reuters reports:
Bloomberg reports:
Bloomberg reports:
China is planning to ease the flow of rare earths and other restricted materials in a bid to exclude companies which have connections to the US military, according to a report in the Wall Street Journal.
The Wall Street Journal reports:
Tue, November 11, 2025 at 5:31 AM UTC Italian pasta companies face levies of more than 100% on their products imported to the US
Pasta made in Italy may soon be unavailable in the US, as duties imposed by the Trump administration make the cost of doing business prohibitive for the pasta manufacturers, The Wall Street Journal reports.
Earlier this year, the Commerce Department slapped a 92% anti-dumping duty on the 13 Italian companies that import most of the country’s pasta to the US. The administration claims the companies were selling pasta at unfairly low prices, known as dumping, between July 2023 and June 2024.
The anti-dumping penalty is on top of President Donald Trump’s 15% tariff on goods imported from European Union countries, for a total levy of 107% on Italian pasta. Rome has vowed to fight the tariffs, and the WSJ notes that the one-two tariff punch on Italian pasta is one of the steepest on any single product.
Switzerland is in negotiations for a new trade and tariff deal with the United States. The emerging deal would represent a significant improvement, given that the country was subject to a higher tariff rate than most of its international peers.
Bloomberg reports:
Mon, November 10, 2025 at 4:28 PM UTC European business braces for greater impact from US tariffs in 2026
Reuters reports:
Mon, November 10, 2025 at 12:01 PM UTC Bessent says Trump’s $2,000 ‘dividend’ may come via tax cuts
President Trump has said his sweeping tariffs will produce a hefty dollar “dividend” for Americans, as he mocked critics of his trade policy.
“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” Trump said in a post to Truth Social on Sunday that began: “People that are against Tariffs are FOOLS!”
Trump pointed to the boost to US coffers from levies so far, plus the record-setting run in stocks, as reasons to believe in tariffs.
Asked by ABC about the comments, Treasury Secretary Scott Bessent focused on the long-term goal of tariffs — boosting investment in the US — rather than the short-term surge of revenue generated.
Bloomberg reports: