Trump eyes extra home journey to tout financial agenda, affordability

WASHINGTON, Nov 12 (Reuters) – U.S. President Donald Trump plans extra home journey to promote his administration’s efforts to drive down the price of residing, two individuals with information of the matter stated, as a prime aide promised huge strikes to decrease the value of espresso, bananas and different items.

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Democratic wins in New Jersey, New York and Virginia, pushed partly by cost-of-living issues, revealed issues amongst voters over ongoing inflation, which economists say has been fueled partly by excessive import tariffs imposed by Trump. More than half of the road gadgets reported within the month-to-month Consumer Price Index from the Labor Department had been rising at greater than a 3% annualized fee as of the newest report for September, in response to evaluation by Apollo Global Management Chief Economist Torsten Slok.

“Cleaning up Joe Biden’s inflation and financial catastrophe has been a prime focus for President Trump since Day One, when he signed an array of govt orders to unleash American vitality and slash pricey laws,” said White House spokesman Kush Desai, citing ongoing efforts to reduce prices for gasoline, eggs, medicines and other goods.

“The Trump administration will proceed to implement and emphasize these and different financial insurance policies which might be reducing prices, elevating actual wages, and securing trillions in investments to make and rent in America,” he said.

It was not immediately clear where or when Trump planned to travel to discuss his economic agenda.

Treasury Secretary Scott Bessent told Fox News’ “Fox and Friends” program earlier Wednesday that “substantial bulletins” were planned in coming days to lowering the prices of products like coffee, bananas and other items not grown in the U.S.

He gave no details, but said the measures would bring down prices “in a short time,” including that folks would begin feeling higher in regards to the financial system within the first half of 2026.

Bessent, asked about those ideas, said a $2,000 rebate check proposed by Trump would benefit those earning less than $100,000 per year, but no decisions had been made. He did not address the 50-year mortgage idea, which has sparked criticism from conservative allies, business leaders and lawmakers.

LOWERING TARIFFS

Trump, in an interview aired on Fox News’ “The Ingraham Angle” show on Tuesday, said the U.S. would lower some tariffs on coffee imports, repeating comments he first made in late October during his trip to Asia.

Asked about Trump’s comments about lowering tariffs on coffee producers Vietnam and Brazil, Bessent said, “It’s robust to do a number of particular issues, however I can inform you … you are going to see some particular bulletins in coming days when it comes to issues we do not develop right here within the United States, espresso, espresso being one in every of them, bananas, different fruits, issues like that.”

In September, U.S. consumers paid nearly 19% more than a year earlier for roasted coffee and nearly 22% more for instant coffee, according to that month’s CPI report. Banana prices were up nearly 7% year over year compared with essentially no change for fresh fruit more widely.

The U.S. grows bananas in Hawaii and Florida, but commercial production is limited and most bananas are imported from countries where labor is cheaper and land costs are lower.

Bessent said other measures already taken by the Trump administration, including reducing taxes on overtime and tips, would kick in early next year, as well as moves to boost domestic manufacturing through foreign investment.

“Real wages are going to extend,” Bessent said. “I might count on within the first quarter, second quarter of subsequent yr …. Americans are going to start out feeling higher.”

Many households will see large tax refunds next year given changes in tax law, allowing deductions for car loans and ending taxes on Social Security benefits for some seniors. Parents of children born after December 31, 2024 and before January 1, 2029 could also receive a $1,000 initial deposit if they opened a Trump account, Bessent said.

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