The White House announced that it will scrap U.S. tariffs on beef, coffee, and other commodities after President Trump signed an executive order on Friday. Fertilizers will no longer be subject to tariffs, though some fertilizers were never subject to the duties, the White House said.

The reciprocal tariff reduction will favor beef imports from Australia, New Zealand and Argentina. A 40 percent duty remains on Brazilian exports outside of the reciprocal tariffs, particularly discouraging coffee and beef shipments from the country.

U.S. beef imports for the first seven months of this year were up about 30 percent year-over-year. Monthly data has been delayed due to the recent government shutdown. Reporting may not resume until early December.

The Trump administration announced trade frameworks with Argentina, Ecuador, Guatemala, and El Salvador on Thursday. The expected deals, which have yet to be finalized, will eliminate tariffs on certain products from those countries.
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