The president has enacted an executive order to exclude a variety of food products from the previously imposed comprehensive tariffs.

Australia annually exports beef valued at over $2 billion to the United States.

This new executive order, which nullifies the tariffs, has been made retroactive, allowing importers to receive refunds for duties they have already paid.

The exemptions also cover tomatoes, coffee, bananas, and several other tropical fruits that are not typically cultivated in the US.

This decision seems to be aimed at mitigating concerns about the rising cost of living in America.

Pressure has been mounting on Trump, who has placed inflation at the forefront of his election campaign.

Since taking office, prices on most everyday items have risen.

Senior House Democrat Richard Neal described the move as “putting out a fire that they started and claiming it as progress”.

“The Trump Administration is finally admitting publicly what we’ve all known from the start: Trump’s Trade War is hiking costs on people,” he said.

“Every day that Trump’s tariffs remain in place is another day that families, small businesses, farms, and manufacturers get crushed.

“It’s time to end the entire Trade War and for House Republicans to let Congress restore its rightful authority.”

This is largely off the back of a decline in beef production in the United States, as well as much higher tariffs on other importers like Brazil.

American cattle herds are at their lowest level since the 1950s, while a series of wetter seasons in Australia has allowed farmers here to expand.

Also included on the list of tariff-exempted imports are coal, petrol and oil products, uranium and many other chemicals.