Bessent Promises Relief on Soaring Coffee, Fruit Prices/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Treasury Secretary Scott Bessent says the Trump administration will announce actions in the coming days to lower prices on imported goods like coffee and fruit. The move comes amid criticism over rising grocery costs. Specific details remain unclear, but market reactions suggest potential tariff policy shifts.
Grocery Price Relief Quick Looks
- Bessent promises “substantial” relief on coffee and fruit prices
- Says actions will be announced in the next few days
- U.S. tariffs on Brazil and Colombia blamed for coffee spike
- Coffee prices rose more than any other tracked item this year
- Trump administration under pressure over grocery affordability
- Coffee futures fell 4% following Bessent’s comments
- Relief likely targets imported goods not grown in the U.S.
- No specifics yet on policy tools or timing
- Prior tariff relief proposals were shelved earlier this year
- Watch for impact on retail-level prices in coming weeks
Deep Look: Bessent Says Price Relief Coming for Coffee, Fruits as Inflation Pressures Grow
WASHINGTON — Treasury Secretary Scott Bessent said Wednesday that “substantial” government action aimed at reducing grocery prices — particularly for coffee and fruits not grown in the U.S. — will be unveiled within days. His comments come as the Trump administration battles mounting criticism over rising food costs and persistent inflation at the grocery store.
In an interview on Fox News, Bessent previewed the administration’s efforts to bring down prices for everyday goods impacted by global trade policies and import costs.
“You’re going to see substantial announcements over the next couple of days in terms of things we don’t grow here in the United States,” Bessent said. “Coffee being one of them, bananas, other fruits. Things like that. So that will bring the prices down very quickly.”
Grocery Prices Continue to Strain Households
Despite White House assurances that inflation is easing, many Americans remain unconvinced. Shoppers have faced sustained sticker shock at the grocery store, with coffee, in particular, seeing record year-over-year price increases, according to the latest Consumer Price Index (CPI).
Coffee prices have surged more than 20% compared to last year, fueled in part by the Trump administration’s tariffs on major coffee exporters like Brazil and Colombia. Fruits like bananas, also heavily imported, have similarly seen notable price hikes.
“It’s the same challenge Biden faced during the egg shortage — no one believes inflation is under control when basic items are getting more expensive,” one senior economist noted.
Unclear What Actions Will Be Taken
While Bessent made clear that relief is imminent, he did not specify what policy tools the administration will use. In earlier discussions this year, Commerce Secretary Howard Lutnick floated the idea of targeted tariff exemptions for food items not produced domestically, but those proposals were eventually shelved.
Now, speculation is swirling that the administration could be preparing to adjust or roll back tariffs on specific categories of imports like coffee and tropical fruits, which would immediately impact wholesale prices.
The market seems to believe it. Coffee futures dropped roughly 4% following Bessent’s remarks — a sign that traders are anticipating near-term changes to the import cost structure.
Political Pressure Mounts on White House
The Trump administration has made economic relief and price stability central themes of its second term, but rising grocery bills have undercut its message. Critics argue that tariff policies designed to protect American industries have unintentionally driven up the cost of everyday staples — particularly goods not produced in the U.S.
At the heart of the issue is the administration’s broader trade war strategy, which has seen a patchwork of tariffs imposed and lifted across multiple sectors. Coffee and fruit imports, lacking strong domestic alternatives, have been especially vulnerable to global pricing pressures.
Even some supporters of the tariffs acknowledge the pain at the checkout counter.
“You can’t keep asking Americans to pay 20% more for coffee,” said one Republican strategist. “That’s not a winning message in an election year.”
Will Relief Reach Consumers?
The key question now is how quickly any policy shift will translate into lower prices at the consumer level. While futures markets react almost instantly to government signals, retail pricing typically lags, depending on contracts, supply chains, and distribution timelines.
Economists caution that while rolling back tariffs can ease wholesale prices, the impact on shelf prices at supermarkets could take weeks or even months to be fully realized.
Still, Bessent’s statement represents the administration’s most direct acknowledgment of food price pain points, and signals a shift toward more targeted relief efforts on imports.
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