The White House on Thursday announced trade agreements with Argentina, Guatemala, Ecuador and El Salvador, the latest deals since US President Donald Trump imposed sweeping tariffs around the world.
Advertisement
Bananas and coffee are among the groceries whose prices could fall for stretched US consumers, it said, amid growing discontent about the cost of living under Trump’s second presidency.
The four countries, all in America’s backyard in South and Central America, agreed to open their markets to US products while Washington grants tariff relief on some items in return, the White House said.
“We believe that these agreements are going to help achieve balanced trade, achieve reciprocity, and reduce the deficits in the long run,” a senior US administration official told reporters.
“Our expectation is that there’ll be some positive effects for prices, for things like coffee, cocoa, bananas.”
The deals are also a reward for leaders that are friendly towards the Trump administration.