US Trade Policy on Coffee and Bananas to Shift, Treasury Secretary Announces

The United States is preparing to adjust its trade policies regarding certain food products, including coffee and bananas, in a move officials say is intended to alleviate cost-of-living pressures on American consumers.

Treasury Secretary Scott Bessent announced the forthcoming changes yesterday during an appearance on Fox News, though he did not detail specific alterations to tariff levels or identify which countries would be affected. He indicated that announcements with further details are expected “over the next couple of days” regarding items the U.S. does not domestically produce. This comes as rising grocery costs continue to be a significant concern for many households.

The move responds to calls for tariff reductions on imported goods like coffee and bananas, where the U.S. relies almost entirely on foreign sources, meaning tariffs directly translate to higher prices for consumers. Recent data shows coffee prices have surged 18.9% over the past year, with instant coffee increasing by 21.7%, while bananas are up nearly 7% according to the Consumer Price Index. Overall, meat, poultry, and fish prices are up 6% year-over-year, with ground beef seeing a nearly 13% increase.

Bessent also expressed optimism about broader cost-of-living relief, predicting that “the American people are going to start feeling better” in early 2026. He reiterated that the administration is evaluating options, including former President Trump’s proposal for $2,000 tariff rebate payments, as discussed in previous coverage.

Officials stated that further details regarding the specific trade policy adjustments will be released in the coming days.