News Summary

• President Trump on Friday moved to lower tariffs on beef, coffee and dozens of agricultural and food goods.
• The move is part of a shift from the administration to water down some of its so-called reciprocal tariffs.
• In their place, the administration has expanded other tariffs on individual industries like steel, aluminum and automobiles based on more established national security law—Section 232 of the Trade Expansion Act of 1962.
• Yes, We Want No Banana Tariffs is a good thing, but seriously, what is that going to mean in practice?