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U.S. President Donald Trump has signed an executive order to exempt food imports, including beef, tomatoes, coffee and bananas, from the tariffs he imposed earlier this year.

The order comes as the Trump administration attempts to address Americans' growing concerns about inflation, particularly high grocery prices.

The new exemptions, which take effect immediately, are a sharp reversal for Trump, who has long insisted that his import duties are not fueling inflation.

The new tariff exemptions come after a string of victories for rival Democrats in state and local elections held in Virginia, New Jersey and New York City, where affordability was on the ballot.

Trump has upended the global trading system by imposing a 10% base tariff on imports from every country, plus additional duties on specific products.

Tariffs on food items such as beef and coffee that are imported from Brazil and other countries have led to dramatic retail price increases that were being acutely felt by consumers.

In some instances, beef and coffee prices in America had risen 50% this year.

Americans have remained frustrated over high grocery prices, which economists say could rise further in the next year as companies continue passing on price increases to consumers.

Politicians and economists say that the Trump administration now appears to be trying to put out a fire that they started with their tariff policies.

Leading U.S. food companies and grocery retailers include General Mills (NYSE: $GIS ), Costco Wholesale (NASDAQ: $COST ), and Kroger (NYSE: $KR ).