Trump admin announces framework for South American trade deals to try and lower some food prices

The Trump administration on Thursday announced that it has reached framework trade deals with four South American countries that would reduce tariffs on certain goods and food items like coffee and bananas. 

The White House said the trade agreements do not change the underlying tariff rate of 10% for Argentina, El Salvador and Guatemala, or the 15% tariff rate for Ecuador, but that it removes some of the other reciprocal tariffs.

When it comes to Argentina, the United States promised to end tariffs on "certain unavailable natural resources and non-patented articles for use in pharmaceutical applications." It will also drop tariffs on Argentine beef and quadruple the amount of Argentine beef that can enter the U.S.

“President Trump pledged to protect America’s ranchers and deliver economic relief for everyday Americans," White House spokesperson Anna Kelly told Roll Call. "The Administration is accomplishing both by expanding beef imports from Argentina to lower consumer prices in the short term while rolling out a new USDA initiative that will support ranchers and expand cattle herd sizes to keep prices lower in the long term."

For Guatemala and El Salvador, the U.S. will exempt certain textile and apparel products.

The framework also calls for the U.S. and the four Latin American countries to increase market access for other items to allow for additional trade. 

It was not immediately clear when the trade agreements will be finalized, but it comes after Treasury Secretary Scott Bessent teased Wednesday that there would be "substantial announcements over the next couple days for things we don’t grow here in the U.S."

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.