\u201cYou will see, for Ecuador for example, bananas is something they want to ship to us, so we expect tariffs will come off bananas,\u201d a senior administration official said. They also suggested that levies could be reduced on other goods, such as coffee. <\/p>\n
\u201cWe certainly would expect that retailers and wholesalers in America\u2009.\u2009.\u2009.\u2009would pass along any positive effects to the American consumer,\u201d the official added. \u201cTaking off a tariff doesn\u2019t change the weather in Ecuador, but it could have a price effect.\u201d<\/p>\n
The announcement comes as the Trump administration is under growing pressure to tackle a cost of living crisis that is affecting millions of Americans.<\/p>\n
Kevin Hassett, director of the National Economic Council, said earlier this week<\/a> that US inflation, which is at 3 per cent, was moving in the right direction but acknowledged that grocery prices had risen during President Donald Trump\u2019s second term.<\/p>\n \u201cThe affordability gap that was created by [former president Joe] Biden\u2019s runaway inflation is gradually being whittled away by the higher growth that we have,\u201d he told reporters on Thursday. \u201cIn the end, the most important message is going to be what people see in their pockets, which is higher incomes and a higher ability to spend.\u201d<\/p>\n In a statement with Buenos Aires released by the White House on Thursday, Washington said it would remove reciprocal tariffs on imports of \u201cunavailable natural resources\u201d and some ingredients for pharmaceutical goods.<\/p>\n Argentina in turn agreed to open its market to US cattle, the two sides said, as well as easing restrictions on some American dairy products and lowering tariffs on a range of other goods including some medicines, chemicals, machinery, medical devices and motor vehicles.<\/p>\n Washington said in separate statements that it would remove tariffs on goods from Ecuador, El Salvador and Guatemala that \u201ccannot be grown, mined, or naturally produced in the United States in sufficient quantities\u201d.<\/p>\n Tariffs on textiles and apparel products from El Salvador and Guatemala would also be lowered, according to the statement.<\/p>\n A senior administration official said that fuller reciprocal trade agreements for all four countries would be signed and publicised within the next two weeks.\u00a0<\/p>\n
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