Americans could soon see some goods get cheaper after President Donald Trump exempted certain agricultural imports from a set of tariffs on Friday. But any price drops likely won’t be enough to make life feel more affordable any time soon.
The executive order exempted products like coffee, beef and some fruit from Trump’s “reciprocal” tariffs, which began rolling out in April.
The new exemptions are part of what traders have dubbed TACO, or Trump Always Chickens Out, to describe times when the president backs off a policy after unintended consequences pop up. In the case of tariffs, Trump has already reversed a number of his measures, a sign that the administration is reshaping his signature economic tool.
The latest TACO comes after voters, worried about affordability, gave Republicans a drubbing in recent off-year elections.
Nevertheless, US Trade Representative Jamieson Greer said the new exemptions generally won’t help improve affordability.
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