President Trump says there is no room for further tariff reductions

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–I don’t think (new tariff reductions) are necessary. There was only a small decline if the price of some food products, for example coffee, was a little higher. Now, tariffs will be lowered in a very short period of time — a Republican lawmaker told reporters when asked if new tariff cuts were being considered.

These remarks were made aboard the presidential plane, Air Force One, during a weekend flight between Washington and Florida.

Yesterday, the President of the United States eliminated so-called reciprocal tariffs on beef, tomatoes, coffee, bananas, acai, and other agricultural products. The measure is aimed at lowering costs for U.S. consumers as the White House seeks to respond to losses in local elections earlier this month.

It was also a tacit recognition that President Trump’s tariff policies are putting pressure on prices in the United States.

In the case of Brazil, the reciprocal tariff decided in April is 10%. A 40% surcharge was announced in July. The reduction amount in this case is limited to 10% of the reciprocity rate.

Brazil, a major supplier of coffee to the United States, had been subject to a 10% reciprocal tariff, but in July it announced “punitive” tariffs of 40%, which went into effect in August, leaving Brazilian products still subject to a 50% levy.

A White House official, speaking on condition of anonymity, said agricultural products from Brazil listed in the order would continue to be subject to a 40% tariff.

A document published on the White House website said the change was motivated by “significant progress” made by the president on bilateral agreements. These agreements “have had and will continue to have far-reaching effects on the nation’s production and economy as a whole, including improving market access for our agricultural exporters,” the text states.