As criticism grows that the "shopping basket prices" in the United States have risen after the Donald Trump administration's reciprocal tariff, the Trump administration is set to eliminate or lower tariffs on a large scale for agricultural products imported from Latin America.
The White House on the 13th (local time) announced joint statements on the "reciprocal trade agreement framework" with Argentina, Ecuador, Guatemala and El Salvador on its website.
In the joint statements, the White House said it would lower or eliminate the tariff on these countries' machinery, health and medical products, information and communications technology (ICT) products, chemicals, automobiles, certain agricultural products, and textiles and clothing that meet rules of origin.
The move is seen as conscious of growing dissatisfaction over rising prices. The measures announced that day are expected to take effect after the details are finalized, signed and go through domestic procedures.
The joint statement released with Argentina included language to the effect that "the two countries will improve mutual market access for beef trade." Bloomberg News said, "Recently, the number of cattle raised in the United States has fallen to the lowest level in decades, sending beef prices soaring, and the move comes as the Trump administration prepares relief for U.S. consumers."
The document with Ecuador stated, "We commit to eliminate reciprocal tariff on certain eligible Ecuadorian exports that cannot be sufficiently grown, mined or naturally produced in the United States." The documents with Guatemala and El Salvador contained similar provisions. According to CBS News, a senior administration official said, "We expect a positive impact on prices for coffee, cocoa and bananas."