Trump also promised dividend

Trump It also said that profits from the tariffs could be used to give $2,000 to American citizens next year. Trump said, now we will give dividend, along with this we will also reduce the country’s debt.

The US administration said that some food products were exempted because they are not grown in America. Apart from this, America has agreed on framework trade deals with Argentina, Ecuador, Guatemala and El Salvador. There is also a possibility of more agreements being made by the end of this year.

The price of which things increased, by how much?

Beef prices rose nearly 13% in September, while the price of steaks rose nearly 17%. The price of banana increased by 7% and the price of tomato increased by 1%. The total price of food items at home has increased by 2.7% in September. The US is a major producer of beef, but beef prices remain high due to cattle shortages.

This step has been appreciated by many industry groups. Leslie Sarasin, president of FMI-Food Industry Association, said that this step will be helpful for consumers and is also beneficial for producers. At the same time, no discount was given on liquor coming from Europe and Britain, which will cause loss to the hospitality industry.

Trump blames Biden government

Trump said that this is just a slight reversal. He expressed hope that coffee prices will come down soon. He claimed that inflation increased not because of his tariffs, but because of the policies of the Biden government. Democrats in Congress said that the Trump administration is pretending to fix the problem it started. He said tariffs increased prices and reduced production.