US signs trade agreements with Argentina, Guatemala, Ecuador and El Salvador, offering tariff relief on bananas, coffee and cocoa imports.
WASHINGTON: The White House announced new trade agreements with Argentina, Guatemala, Ecuador and El Salvador on Thursday.
These latest deals follow President Donald Trump’s imposition of sweeping global tariffs earlier this year.
The agreements could lower prices for American consumers on groceries including bananas and coffee.
All four countries are located in South and Central America, within America’s traditional sphere of influence.
They have agreed to open their markets to US products in exchange for Washington’s tariff relief on selected items.
“We believe these agreements will help achieve balanced trade, achieve reciprocity, and reduce deficits in the long run,” a senior administration official told reporters.
“Our expectation is that there’ll be some positive effects for prices, for things like coffee, cocoa, bananas.”
The deals also reward leaders who maintain friendly relations with the Trump administration.
Argentina, a major beef producer, saw its libertarian president Javier Milei visit the White House last month.
El Salvador’s Nayib Bukele, who calls himself the “world’s coolest dictator,” celebrated the agreement.
“Friends,” Bukele posted on social media alongside a copy of the joint US-El Salvador statement.
Guatemalan President Bernardo Arevalo praised his country’s “strong relationship” with Washington.
His government had previously signed an agreement with the Trump administration to accept returned migrants.
“After months of intensive work and frank dialogue, we became one of the first countries to reach an agreement to reduce and eliminate tariffs,” Arevalo stated.
The announcements come amid growing American discontent about living costs under Trump’s second presidency. – AFP
