On 14 November 2025, the United States government implemented a significant change to its trade policy, withdrawing tariffs on more than 200 food products.

This adjustment, effective retroactively from midnight on 13 November, included everyday items such as coffee, beef, bananas, and orange juice.

Other items in the revised list of exemptions include acai berries, paprika, cocoa, chemicals used in food production, fertilisers, and communion wafers.

The decision followed increasing concern among American consumers regarding the rising cost of groceries.

New agreement with South Korea

In a separate development, the United States and South Korea disclosed details of a new trade agreement.

The arrangement includes a $150 billion investment from South Korea into the American shipbuilding industry, alongside an additional $200 billion allocated for industrial sectors.

Under the terms of the agreement, American import duties on South Korean products will be reduced to 15% from the previous rate of 25%.

Specific provisions ensure that US imports of wood products and pharmaceuticals from South Korea will not exceed a 15% tariff, while aircraft parts and generic drugs will be exempt from tariffs altogether.

Regarding semiconductors, the United States has committed to offering South Korea terms that are at least as favourable as those provided in any future agreement covering a comparable volume of semiconductor trade.