LUBBOCK, TX – U.S. food costs could ease as new tariff exceptions and trade agreements expand access to key imported goods. According to Dr. Luis Ribera, Professor and Director of the Center for North American Studies, the Trump administration’s recent actions target high-dependency products such as bananas, tea, coffee, cocoa, fruit juice, spices, tomatoes, and select fertilizers — many of which rely heavily on foreign supply.
Imports account for over 90 percent of U.S. consumption of bananas, tea, coffee, and cocoa, and more than 60 percent of imports of spices, tomatoes, and fruit juice. Canada leads in imports of fertilizers and cocoa products; Brazil dominates fruit juice and coffee; and Mexico supplies 85 percent of tomatoes.
The administration also announced new framework agreements with Ecuador, Guatemala, El Salvador, and Argentina, removing reciprocal tariffs on most exports to the United States. Together, those nations shipped $7.45 billion in agricultural goods to U.S. buyers last year.
Farm-Level Takeaway: Tariff relief and new trade agreements may temper food costs by reducing import costs.