In America, Coffee Could Cost 50% More

 

America's Favorite Drink Could Get 50% More Expensive Soon

BY C STONE | STONE NEWS NETWORK ||| WASHINGTON, D.C.

If you're a coffee lover and live in America, we have some bad news for you: It could get 50% more expensive due to tariffs that might be introduced by the Trump Administration. But it could get even more expensive, due to their retaliatory rules which increase tariffs if the other country adds their own.

From Axios:

President Trump's threat to put a 50% tariff on Brazil, the world's largest coffee producer, risks making your morning cup — already way more expensive than a year ago — even pricier.

Why it matters: Retail coffee costs have been surging for months on the back of record wholesale prices, but there'd recently been at least a little hope of relief.

That might be out the window now.

Catch up quick: Trump said Wednesday he'd impose steep new levies on Brazil, in an angry letter demanding the country drop criminal charges against his ally, former president Jair Bolsonaro.

Brazilian officials were quick to promise retaliation.

And even though this has not been implemented yet by the U.S. government, it's clear that prices have been rising steadily over the past few weeks.

Coffee prices bounced up 1.8% today due to rumors of tariffs and market insecurity.