US President Donald Trump has backflipped on tariffs on beef - Australia's largest export to the United States.

The president signed an executive order to exempt a wide range of foods from his sweeping tariffs.

Top of the list is beef.

Australia exports more than $2 billion worth of beef to the United States each year.

The executive order overturning the tariffs is retroactive, meaning importers will get a refund for the duties they paid.

Also included in the reversal are tomatoes, coffee and bananas, as well as a range of other tropical fruit not typically grown in the US.

The move appears to be an effort to address cost-of-living concerns in America.

Trump is under increasing pressure after making inflation the centrepiece of his election campaign.

Since taking office, pric

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