gave Republicans a drubbing<\/a> in recent off-year elections.\n <\/p>\n\n Nevertheless, US Trade Representative Jamieson Greer said the new exemptions generally won\u2019t help improve affordability.\n <\/p>\n
\n \u201cIt depends on what the importers do with the tariff,\u201d he said in a CNBC interview on Friday. \u201cSo when you look at the overall price trend, it hasn\u2019t been because of tariffs. It\u2019s been because of these other events going on and just supply and demand.\u201d\n <\/p>\n
\n But in cases where tariffs have been passed along to consumers, prices could drop, Greer said.\n <\/p>\n
\n One potential example: bananas. American consumers are paying about 8% more for bananas than before Trump\u2019s second term began.\n <\/p>\n
\n The US largely imports bananas from South American countries. With bananas exempt from \u201creciprocal\u201d tariffs that started at 10%, prices could go back to where they were earlier this year, said Sarah House, senior economist at Wells Fargo. But it\u2019s unlikely to be something most consumers notice unless they\u2019re buying bananas often, she added.\n <\/p>\n
\n But not everyone is convinced it will even do that much.\n <\/p>\n
\n \u201cIt is not clear that lowering tariffs will lower prices \u2014 it depends on what retailers think they can get away with. The import price of bananas has fallen since tariffs were imposed, but the US consumer price has risen,\u201d Paul Donovan, chief economist at UBS global wealth management, said in a note last week. (The United States tracks import prices before accounting for tariffs. In some cases, import prices have fallen as exporters lower what they charge as a way to share in the tariff expense importers pay.)\n <\/p>\n
\n The White House has ramped up its efforts to convince voters that affordability issues are just a hangover from former President Joe Biden.\n <\/p>\n
\n \u201cPutting Joe Biden\u2019s inflation crisis firmly behind us has been a priority for President Trump since Day One, when he signed an array of executive orders to slash costly regulations and unleash American energy,\u201d White House spokesman Kush Desai told CNN in a statement.\n <\/p>\n
\n But economists generally agree that Trump\u2019s tariffs aren\u2019t making matters better.\n <\/p>\n
\n And while prices normally fluctuate, especially for food, they generally get more expensive over time, House said. \u201cThat\u2019s why this isn\u2019t going to, I think, cure consumers\u2019 angst about elevated prices,\u201d she said.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Americans could soon see some goods get cheaper after President Donald Trump exempted certain agricultural imports from a…\n","protected":false},"author":2,"featured_media":135008,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-135007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/135007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=135007"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/135007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/135008"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=135007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=135007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=135007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}