Treasury Secretary Scott Bessent says relief is finally on the way for American families struggling with grocery bills — and credits President Trump’s economic plan for putting the country back on track. Speaking Wednesday on “Fox & Friends” with Brian Kilmeade, Bessent said the administration will make “substantial announcements” in the coming days to help lower the cost of everyday essentials.
Kilmeade pressed him on affordability, asking which grocery items could drop in price. “For example, coffee,” Kilmeade noted. “The president said, ‘I’m going to lower tariff rates on Brazil and Vietnam and other places to try to bring the price of coffee down.’ What else do you do?”
Bessent confirmed that Americans can expect price relief on items the U.S. doesn’t produce, saying, “You’re going to see substantial announcements over the next couple of days… Coffee being one of them. Bananas, other fruits, things like that. So that will bring the prices down very quickly.”
It’s a rare acknowledgment that tariffs have, in some cases, driven up prices — but Bessent emphasized that the overall impact has been a net win for the U.S. economy. President Trump recently echoed that point, admitting Americans are “paying something” due to tariffs, but adding, “When you take the overall impact, the Americans are gaining tremendously.”
Coffee prices have climbed sharply in recent months — up 41% from a year ago, according to the Associated Press — as tariffs affected major exporters. Bananas and other imports have seen smaller increases. But Bessent said the administration’s new trade adjustments will reverse those trends quickly.
He also took aim at the economic disaster left behind by Joe Biden, saying the Trump team inherited an “affordability mess.” “It was the worst inflation in 40–50 years, one of the worst in the nation’s history,” Bessent said.
The Treasury Secretary added that Trump’s plan addresses both sides of the equation — prices and wages. “You are going to feel it,” he promised. “By the first quarter of next year, Americans will see prices decline while their wages rise. I think 2026 is going to be a blockbuster year.”
Meanwhile, the Supreme Court is weighing whether President Trump’s authority to impose global tariffs falls under his constitutional powers. Several conservative justices expressed skepticism of limiting that authority — a sign the Court may ultimately uphold Trump’s ability to use tariffs as a weapon for American prosperity.