Trump prepares to cave on his own tariffs in desperate bid to lower food costs: report
President Donald Trump's administration is preparing broad exemptions to the president's signature tariff regime in a desperate bid to lower food costs, according to a new report.
The New York Times reported on the exemptions, citing three sources familiar with the matter. The report indicates the exemptions would apply to several tariffs the president implemented in April with countries that have not yet struck trade deals with the U.S.
The move is happening as the Supreme Court debates whether the Trump administration broke the law by unilaterally imposing tariffs without the approval of Congress.
"The exemptions are expected to include beef and citrus products, although the people cautioned that President Trump had not made a final decision," the report reads in part. "The issue of increasing beef imports has been a source of contention among U.S. ranchers, who say it runs counter to Mr. Trump’s philosophy of boosting domestic production."
"If the administration chooses to offer exemptions for products from countries that have not entered into trade agreements with the United States, that could risk appearing to reward countries that did not try to work with the administration," the report continues.