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Investing.com-- The Donald Trump administration is considering broad exemptions to certain trade tariffs in a bid to bring down high food prices in the country, the New York Times reported on Thursday, citing three people briefed on the plans.
The change will likely apply to some of Trump’s “reciprocal” tariffs which were announced in April, especially on products coming in from countries that have not struck trade deals with the administration.
The exemptions could include beef and citrus products, although the NYT reported that no final decision was made on the matter.
The plan will go beyond the exemptions that Trump had proposed in September, which covered products that are not primarily made or grown in the U.S., and which are purchased from countries with which the White House signed trade deals.
The NYT report comes just after the Trump administration announced trade deals with four more countries– Argentina, Guatemala, El Salvador, and Ecuador.
Trump imposed double-digit tariffs on a host of countries this year, and while he did cut them following a swathe of trade deals since August, tariff levels have remained at historically high levels.
The duties sparked concerns over increased U.S. inflation, given that they were borne by American importers. Cost of living has become a contentious topic for the U.S., with inflation seen turning increasingly sticky in recent months, despite Trump’s claims to the contrary.
The NYT report comes just a week after the Republicans lost several off-year elections in the country, as Democrat candidates focused on anxiety over the high cost of living.