Grocery prices may drop as Trump lifts tariffs on Brazilian imports

Experts say shoppers may soon notice lower prices on certain grocery items after President Donald Trump lifted several tariffs on Brazilian imports this week.

(CNN)- Experts say shoppers may soon notice lower prices on certain grocery items after President Donald Trump lifted several tariffs on Brazilian imports this week. The move removes duties on products including coffee, beef, and a range of fruits, juices and nuts.

“Consumers are facing the tariffs in prices,” said Lauren Murphy, managing director of Wells Fargo Retail Finance.

According to the executive order, some U.S. businesses may qualify for refunds, and the tariff changes apply retroactively back to November 13th. That date also marked the rollout of a previous order reducing tariffs on select food items.

The United States currently has a trade surplus with Brazil. Trump initially imposed 50 percent duties on Brazilian goods in July in protest of the trial of former Brazilian president Jair Bolsonaro.

“President Bolsonaro is not a dishonest man,” Trump said in July. “He loves the people of Brazil.”

Critics argue Americans were ultimately paying the price. “The American people are the ones who pay those tariffs,” said Sen. Patty Murray of Washington.

A Senate resolution aimed at lifting the tariffs passed last month but stalled in the House. Sen. Tim Kaine, who co-sponsored the proposal, said tariffs were driving up everyday costs. “People are paying more for coffee, more for beef, more for fruits and vegetables,” Kaine said.

High inflation in the U.S. began during the Biden administration, and Trump has repeatedly promised to bring costs down. But many economists say tariffs generally increase inflation, not reduce it.