Retreating on Tariff Hikes Won’t Make Life in the U.S. More Affordable

Americans could soon see some goods get cheaper after President Donald Trump exempted certain agricultural imports from a set of tariffs.

The executive order exempted products like coffee, beef, and some fruit from Trump’s “reciprocal” tariffs, which began rolling out in April.

But any price drops likely won’t be enough to make life feel more affordable any time soon, Elisabeth Buchwald wrote in an analysis for CNN late on Nov. 15, 2025.

The executive order exempted products like coffee, beef, and some fruit from Trump’s “reciprocal” tariffs, which began rolling out in April.

The new exemptions are part of what traders have dubbed TACO — or “Trump Always Chickens Out” — to describe times when the president backs off a policy after unintended consequences pop up.

In the case of tariffs, Trump has already reversed a number of his measures, a sign that the administration is reshaping his signature economic tool.

The latest TACO comes after voters, worried about affordability, gave Republicans a drubbing in recent off-year elections. Nevertheless, U.S. Trade Representative Jamieson Greer said the new exemptions generally won’t help improve affordability.

“It depends on what the importers do with the tariff,” he said in a recent CNBC interview.

“So, when you look at the overall price trend, it hasn’t been because of tariffs. It’s been because of these other events going on and just supply and demand.”