Trump's Tariff Rollback: A Bid to Battle Grocery Inflation

President Donald Trump has reversed tariffs on over 200 food items, aiming to curb rising grocery prices. This move, retroactive from Thursday midnight, aims to ease inflation concerns. Despite criticism, Trump plans a $2,000 payment funded by tariff revenues to lower/middle-income Americans in the coming year.

In a dramatic policy shift, U.S. President Donald Trump has rescinded tariffs on more than 200 food products, a decision drawing significant attention amid growing public concern over food prices. The tariffs, revoked as of midnight Thursday, were seen affecting staples like coffee and beef, contributing to consumer worries about inflation.

During a conversation with reporters on Air Force One, Trump acknowledged that his tariffs might have prompted some price increases, despite previously asserting that the U.S. faces 'virtually no inflation.' The rollback includes popular consumer items such as oranges and cocoa, aiming to alleviate financial pressure on families across the country.

Further addressing affordability issues, Trump announced a $2,000 dividend for lower- and middle-income Americans, funded by tariff revenues. Critics, however, accuse the administration of trying to remedy a problem of its own making, as tariffs have reportedly propelled inflation and hindered manufacturing growth since their implementation.

(With inputs from agencies.)