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Traders rush to land Brazilian coffee in the US before Trump’s 50% tariff

  • Traders rush shipments to avoid 50% tariff before August 1
  • U.S. coffee prices could rise further due to tariff hike
  • Brazilian coffee may shift to Europe, Asia; U.S. to source elsewhere

NEW YORK, July 15 (Reuters) – Commodities traders are racing against time to unload as much Brazilian coffee as possible in the United States before Trump’s new 50% tariff on Brazilian products is implemented on August 1, they said on Tuesday.

Newly released data showed U.S. consumer prices rose in June as the cost of the Trump administration’s tariffs began to be passed on, including to cups of coffee.

Disclaimer: The material is taken from the Internet

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