Brewing trouble: America’s coffee addiction meets Trump’s trade tariffs | News Channel 3-12
UNITED STATES, JUL 21 – The tariff targets Brazil's coffee exports as political retaliation and threatens to raise U.S. retail coffee prices, with Brazil supplying about 30% of U.S. imports, analysts said.
- On July 9, President Donald Trump said in a letter to President da Silva that he would impose a 50% tariff starting August 1, threatening small coffee farms in Hawaii and California.
- Trump indicated that the 50% tariff serves as political retribution for Brazil’s treatment of former President Jair Bolsonaro, who is on trial for trying to overturn the 2022 election.
- Importers are racing to stockpile coffee before August 1st, and commodity coffee prices have spiked, prompting importers to amend wholesale prices for August.
- Small roasters like Lost Sock are raising alarms, while Barr said it's `a tax on Americans' mornings`.
- News reports predict consumers will face higher retail prices soon, and with global coffee stocks low the tariff could push coffee prices even higher.
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Brazil to investigate suspected FX insider trading on US tariffs
BRASILIA - Brazil's Supreme Court Justice Alexandre de Moraes authorized an investigation into the alleged use of privileged information on foreign exchange transactions before the announcement of the 50% U.S. tariff on all Brazilian imports in July, according to a Monday court filing. Read more at straitstimes.com.
·Singapore
Read Full ArticleU.S. coffee drinkers and businesses will pay the price for Trump's Brazil tariffs
President Trump plans to levy a 50% tariff on all goods from Brazil — the source of about 30% of U.S. coffee imports. This looming tariff threat has sent shock waves through the U.S. coffee industry.
·Washington, United States
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Total News Sources40
Leaning Left7Leaning Right3Center10Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 35%
C 50%
15%
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