U.S. to remove tariffs on some products from Ecuador, Argentina, Guatemala and El Salvador

The United States said on Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and El Salvador under framework agreements that will give U.S. firms greater access to those markets.

The agreements are expected to help lower prices for coffee, bananas and other foodstuffs, a senior Trump administration official told reporters, adding the administration expected U.S. retailers to pass on the positive effects to American consumers.

The framework deals with most of the four countries should be finalized within the next two weeks, the official said, with additional agreements seen as possible before the end of the year.

Treasury Secretary Scott Bessent on Wednesday said the U.S. planned some "substantial" announcements in coming days that would lead to lower prices on coffee, bananas and other fruits, as part of a push by the Trump administration to drive down the cost of living for Americans.

Secretary of State Marco Rubio and Brazil's Foreign Minister Mauro Vieira discussed a framework for a U.S.-Brazil trade relationship in a meeting this week, the U.S. State Department said on Thursday.

Brazil is the world's largest coffee producer and exporter but its exports to the U.S. face crushing 50 percent duties imposed by U.S. President Donald Trump.

Trump has focused intensely on the issue of affordability after a string of defeats for Republican candidates in last week's elections, while insisting that any higher costs were triggered by policies enacted by former President Joe Biden, and not his own sweeping tariffs.

Democratic wins in New Jersey, New York and Virginia, driven in part by cost-of-living concerns, revealed growing angst among voters over high prices, which economists say has been fueled in part by import tariffs imposed by Trump on nearly every country.

The New York Times on Thursday reported the Trump administration was considering further tariff exemptions on imported food products such as beef and citrus to ease prices, including from countries that have not reached trade agreements with the U.S.

A White House spokesperson did not immediately respond to a request for comment on the story.

Officials in Argentina, El Salvador, Guatemala and Ecuador welcomed the deals.

The framework agreements announced on Thursday would maintain 10 percent tariffs on most goods from El Salvador, Guatemala and Argentina, where the U.S. had modest trade surpluses, and 15 percent for imports from Ecuador, where the U.S. had a trade deficit.

But they will result in the removal of U.S. tariffs on a number of items that are not grown, mined or produced in the United States, the official said, listing as examples bananas and coffee from Ecuador.

The deals, similar to those announced with Asian countries in October, included commitments to refrain from digital services taxes on U.S. companies, along with the removal of tariffs on U.S. agricultural and industrial goods, the official said.

(With input from Reuters)