U.S. to cut tariffs on bananas and other items from four countries 

Yesterday the Trump administration announced trade deals with four Latin American countries, which would lower tariffs on imports and exports, including bananas. 

The deals were made with El Salvador, Argentina, Ecuador, and Guatemala, and are expected to be finalized in the next few weeks, the administration said. 

As part of the agreements, the U.S. “will give Most Favored Nation (MFN)-tariff treatment for certain originating goods from these countries that cannot be grown, mined, or naturally produced in the United States in sufficient quantities.” 

Tropical fruits and vegetables, such as bananas, are expected to be included. 

U.S. Treasury Secretary Scott Bessent told Fox News on Wednesday, “You’re going to see some substantial announcements over the next couple of days in terms of things we don’t grow here in the United States, coffee being one of them, bananas, other fruits, things like that. That will bring the prices down very quickly.” 

Tariff rates on those countries are 15 percent on Ecuador, and 10 percent on Argentina, Guatemala, and El Salvador, and would remain in place for items not covered in this agreement.