(NAFB.com) – President Donald Trump on Thursday lifted the 40% tariffs he imposed in July on Brazilian food imports, reversing a policy that had raised U.S. consumer costs and strained agricultural markets. The move removes duties on Brazilian beef, coffee, cocoa and fruit beginning Nov. 13, and may trigger refunds for tariffs already paid, according to a White House order. The rollback follows similar actions last week easing food tariffs from other countries as the administration reassesses trade measures that contributed to higher grocery prices. Brazil supplies about one-third of U.S. coffee and has become a major source of beef for the U.S. market. Commerce Secretary Howard Lutnick said Trump aimed to “wipe the slate clean” after earlier broad tariff threats, calling the step a shift toward affordability. Commodity markets reacted sharply. U.S. cattle futures fell on concerns about increased Brazilian beef imports, while global coffee prices plunged more than 6% as traders anticipated a surge of Brazilian shipments.