Treasury Secretary Bessent announces tariff relief on coffee, fruits

Investing.com -- Treasury Secretary Bessent announced Wednesday that the administration will unveil tariff relief on coffee, bananas, and other items in the coming days.

Speaking on Fox News, Bessent said the economy was "in a great place" before the government shutdown, which he described as causing a "hiccup" in economic activity.

"We’re going to unveil tariff relief on coffee, other items," Bessent stated, adding that "bananas and other fruits" would also see reduced tariffs. He indicated that "substantial tariff news" would be coming in the next couple of days.

Shares of Starbucks (NASDAQ: SBUX) gained 1.5% following Bessent’s comments about coffee tariff relief.

The Treasury Secretary also discussed potential "tariff dividends," noting that various options were under consideration though no decisions had been made. He mentioned that President Trump has been discussing a possible $2,000 rebate for families earning less than $100,000.

Bessent reiterated that "substantial" tax refunds would be coming in early 2026 and predicted that real incomes would increase in the first and second quarters.

On immigration, Bessent outlined a plan to bring in skilled workers for 3-7 year periods to train American workers before returning to their home countries.

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