Summary
President Donald Trump announced trade agreements with four Latin American countries to reduce import taxes on coffee and bananas. The agreements aim to address concerns about affordability in the U.S. while maintaining certain tariffs on other goods. The deals are part of a broader effort to ease trade tensions and are expected to be signed soon.
Key Facts
- Trade deals involve four Latin American countries: Argentina, Guatemala, El Salvador, and Ecuador.
- The U.S. will lower tariffs on coffee and bananas from these countries.
- A 10% tariff will remain on goods from Guatemala, Argentina, and El Salvador, and a 15% tariff on Ecuador.
- Coffee, cocoa, and bananas are among the goods expected to be exempt from tariffs.
- The U.S.-Argentina deal also focuses on beef producers accessing foreign markets.
- Guatemala and Ecuador are leading banana exporters to the U.S.
- Brazil, the top coffee exporter to the U.S., is not part of this deal.
- The deals are anticipated to be signed within two weeks.
