Trump Signs Order to Lower Tariffs on Some Food, Pharma Products From 'Aligned Partners'

President Donald Trump signed an executive order on Friday, opening the door to lower tariffs for certain products from some aligned partners. The order covers four categories of products. Certain aircraft and aircraft parts, certain generic pharmaceuticals and their ingredients, unavailable natural resources and closely related derivative products, and certain agricultural products not grown or produced in sufficient quantity in the United States to meet domestic demand. To get reduced reciprocal tariffs, the trading partners must conclude a deal with the United States that helps mitigate the national emergency relating to the trade deficit, the White House said. The move came as the impact of Trump's tariffs on U.S. domestic inflation started to show up in certain categories. Wholesale vegetable prices rose 39 percent in July and wholesale coffee futures increased 25 percent in August.