Treasury Secretary Scott Bessent announced on Wednesday (November 12) that the U.S. government plans to introduce significant tariff relief on several consumer items, including coffee and bananas. Speaking on Fox and Friends, Bessent highlighted that the administration aims to reduce duties on products not grown domestically in the United States.
While specific details on the implementation of these tariff cuts were not disclosed, Bessent expressed optimism that the move would lead to a rapid decrease in prices for these everyday items. “That will bring prices down very quickly,” he stated during the interview.
“The American people are going to start feeling better,” he added.
This announcement comes as part of the administration’s broader effort to alleviate consumer costs and address inflationary pressures. The reduction in import taxes is expected to benefit consumers by making imported goods more affordable.
Further details on the timing and scope of the tariff relief are anticipated to be released soon, as the administration finalizes its plans.
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