The Trump administration has, at long last and in a small way, admitted that tariffs raise prices.
The White House is finalizing plans to lower tariffs on coffee, beef, fruit, and other imports from several countries amid rising grocery prices and mounting political pressure. That includes four new "framework" trade deals that the Trump administration announced Thursday with countries in Central and South America, and more reductions could be on the way. The administration is planning to lower tariffs on "products coming from countries that have not struck trade deals with the administration," The New York Times reported on Thursday, though the paper cautioned that the president had yet to make any final decisions.
