Story perspectives

Trump Considers Tariff Cuts to Lower Coffee Prices

11/13/2025

Summary

Story summary

U.S. President Donald Trump plans to cut tariffs on consumer goods, including coffee and bananas.
Treasury Secretary Scott Bessent announced the move on Fox News, saying more details would come soon.
The tariff cuts aim to stabilize prices and improve affordability as coffee prices rose 18.9% over the past year.
The administration is considering a $2,000 tariff rebate for families under $100,000, but no final decision has been made.

History

Historical Context

The Smoot-Hawley Tariff Act, enacted on June 17, 1930, raised tariffs on over 20,000 imported goods to protect American industries during the Great Depression. This led to retaliatory tariffs from other nations, significantly reducing international trade and worsening economic conditions. In contrast, recent plans by President Trump’s administration to cut tariffs on goods like coffee aim to stabilize prices and improve affordability for American families.

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Story summary

U.S. President Donald Trump plans to cut tariffs on consumer goods, including coffee and bananas.
Treasury Secretary Scott Bessent announced the move on Fox News, saying more details would come soon.
The tariff cuts aim to stabilize prices and improve affordability as coffee prices rose 18.9% over the past year.
The administration is considering a $2,000 tariff rebate for families under $100,000, but no final decision has been made.

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