Treasury Secretary Makes Vague Claims Coffee Will See Tariff Relief Soon – CoffeeTalk

U.S. Treasury Secretary Scott Bessent announced on Fox News that Americans will see “substantial announcements” aimed at lowering prices of imported products like coffee and bananas in the forthcoming days. He indicated that these changes, although not yet specified, would lead to quick price drops and improve public sentiment about the economy in the first half of 2026.

On Wednesday, coffee prices declined in anticipation of the U.S. potentially reducing certain import tariffs, a move under consideration by President Donald Trump following the Republican Party’s electoral setbacks.

Trump also stated plans to reduce tariffs on coffee imports from Brazil and Vietnam. U.S. coffee roasters have been depleting their stockpiles while awaiting results from U.S.-Brazil trade negotiations, as Brazilian coffee, which constitutes a significant share of U.S. consumption, has been impacted by a 50% import tariff. Bessent reiterated the upcoming announcements will also include adjustments for goods we do not cultivate domestically, stating, “coffee… bananas, other fruits, things like that,” but refrained from providing additional details.

Recent reports indicated that U.S. consumers had faced nearly 19% price hikes for roasted coffee and almost 22% for instant coffee from the previous year.

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