Scott Bessent Says ‘Substantial’ Tariff Relief Coming on Coffee, Bananas, And Other Fruits Grown Outside Of The US: Report

• Besssent said the measures aim to reduce prices quickly for American consumers in the coming days.
• He added that inflation is expected to trend lower, while real wages are projected to rise in early 2026.
• The Treasury Secretary also reiterated that ‘substantial’ tax rebates, potentially $2,000 for those earning under $100,000, are planned for early 2026.

U.S. Treasury Secretary Scott Bessent reportedly said on Wednesday that the Trump administration is gearing up to announce a number of new tariff and tax measures in the coming days. 

In an interview with Fox Business, Bessent said that Americans can expect the government to announce tariff relief for items like coffee, bananas, and other fruits that aren’t grown locally. 

"You're gonna see substantial announcements over the next couple days for things in terms of things we don't grow here in the United States,” Bessent said. “Coffee being one of them. Bananas, other fruits, things like that. That will bring the prices down VERY quickly."

He also noted that inflation was under control and real wages are set to rise. “I would expect in first quarter, second quarter of next year, those two lines are going to cross and the American people are going to feel better,” Bessent stated.

Tax Rebates Expected Early Next Year

Bessent also reiterated that “substantial” tax rebates are expected in early 2026. He stated that individuals earning less than $100,000 could receive rebates of around $2,000, though final details have not yet been confirmed.

He noted that the economy had been in strong shape before the government shutdown, which he described as a temporary “hiccup” in growth. The upcoming tariff and rebate measures are intended to help restore momentum and boost consumer confidence.

U.S. equities were mixed in midday trade on Wednesday. The SPDR S&P 500 ETF (SPY) was down 0.20%, the SPDR Dow Jones Industrial Average ETF (DIA) gained 0.69%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) moved 0.44% lower. Retail sentiment around QQQ on Stocktwits improved to ‘neutral’ from ‘bearish’ territory over the past day.

Read also: CoreWeave Stock Slides After Guidance Cut — But Retail Traders Sniff ‘Generational’ Buying Opportunity

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