Trump set to cut tariffs on beef, coffee to help grocery bills, Bloomberg says

President Donald Trump is slated to sign an order on Friday reducing tariffs on beef, tomatoes, coffee and bananas, according to a White House official, a move aimed at lowering costs on groceries as the administration faces pressure from voters to cut prices on everyday goods, Bloomberg’s Josh Wingrove and Hadriana Lowenkron report. The exemptions would reduce trade levies on the commodities, which can’t be produced in the U.S. in sufficient quantity to meet domestic demand. The exact scope of the tariff reduction, how many total goods are included and how widely it would apply, were not immediately clear, the authors note. Publicly traded companies that could be impacted by the move include Tyson Foods (TSN), Hormel Foods (HRL), Pilgrim’s Pride (PPC), Walmart (WMT), Costco (COST), Kroger (KR), Albertsons (ACI), Sprout Farmers (SFM), McDonald’s (MCD), Yum! Brands (YUM), Chipotle (CMG), Darden Restaurants (DRI), CAVA Group (CAVA), Texas Roadhouse (TXRH), Shake Shack (SHAK), and J M Smucker (SJM).