Tariffs: Will Trump’s reversal lower prices?

President Trump ran in 2024 on the promise that he’d tame prices. Now he has “finally admitted his tariffs do the opposite,” said in Mother Jones. Scrambling to tackle the affordability crisis that drove voters to Democrats in this month’s elections, Trump announced that he was exempting more than 200 agricultural imports—including staples like beef, coffee, and bananas—from the reciprocal tariffs he “proudly implemented in April.” Those import tolls , which range from 10% to 50%, have helped push up the price of numerous groceries: Coffee is up 19% over the past year and beef 16%. Of course, Trump didn’t concede outright that his signature policy is stoking sticker shock, and his administration continues to insist that foreign companies, not American consumers, pay tariffs. “But i