Trump Says Putin, Zelenskiy Must Show Flexibility, Pushes Summit
'I hope President Putin is going to be good, and if he's not, it's going to be a rough situation,' Trump said Tuesday in an interview on Fox News. 'I hope that Zelenskiy, President Zelenskiy, will do what he has to do. He has to show some flexibility.'
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Yahoo
27 minutes ago
- Yahoo
US Roasters Shun Coffee From Brazil After 50% Tariffs Kick In
(Bloomberg) -- American coffee buyers are shunning fresh deals with top grower Brazil after President Donald Trump's 50% tariff took effect this month. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Why New York City Has a Fleet of New EVs From a Dead Carmaker Princeton Plans New Budget Cuts as Pressure From Trump Builds Companies are avoiding new contracts and looking for wiggle room in existing ones to avoid having to pay the higher levies, according to a dozen brokers, roasters and exporters contacted by Bloomberg. Some US buyers are asking for extended shipping timelines in the hopes that tariffs may be eased later, according to Brazil's exporter group Cecafé. Deals between the US and Brazil have 'totally stalled,' said coffee broker Thiago Cazarini. 'No one's really buying anything.' About a third of America's unroasted coffee typically comes from Brazil, a country Trump has been immersed in a trade conflict with, in part due to what he calls the 'politically motivated persecution' of former Brazilian President Jair Bolsonaro. A political ally of Trump's, Bolsonaro faces trial for an attempted coup against the government of President Luiz Inácio Lula da Silva, who defeated Bolsonaro in a 2022 election. Trump first announced 10% tariffs on Brazil and other countries in April, before imposing 50% levies on the South American agricultural power that kicked in on Aug. 6. One roaster, Florida-based Zaza Coffee, gets about a quarter of its beans from Brazil and currently has 14 to 16 weeks left of those supplies. After the beans are used up, the company is looking to replace them with coffee from Central America, Peru and Mexico, said JP Juarez, Zaza's director of coffee innovation. 'We have a certain window within this 14 weeks that maybe something can change in the case of the tariffs,' Juarez said. But 'in the scenario of keeping the tariffs at those levels, probably we are not going to ask for Brazilian coffee.' Many roasters are reluctant to change longstanding blends on what could turn out to be a short-term policy. The country's dominant share makes its beans nearly irreplaceable, with few alternative origins able to match its volumes, according to Christian Wolthers, chief executive officer of Florida-based importer Wolthers Douqué. Roasters may also not want to alter the profile of the blends customers are accustomed to. Brazil is the world's top exporter of arabica, which is considered smoother than robusta and is the only bean used by coffeehouse chain Starbucks Corp. 'Roasters have blends that they like to keep as consistent as they can in any given cost environment,' Rabobank analyst Jim Watson said. Even so, coffee trade between the US and Brazil may continue to slow, in line with a trend seen so far this year. The Cuban-style coffee brand Café Aroma is among the roasters 'working to import coffees where the applicable tariff has more predictability,' vice president Bernadette Gerrity said. It's also buying more coffee futures to help protect against higher costs. Colombia, Vietnam and Honduras are the next biggest sources of coffee for the US in terms of quantity, according to the Department of Agriculture. Vietnam primarily produces robusta, a cheaper variety that most Americans only know from instant coffee. US imports of those beans could climb to 'historical highs' as tariffs on the nation are only 20%, according to Laleska Moda, market intelligence analyst at Hedgepoint Global Markets. The US could also boost imports from Indonesia and Uganda, which have substantially lower tariffs than Brazil, she said. Limited offers for Honduran coffee are already priced 30 to 40 cents per pound above the futures market, while Colombian exporters haven't been offering prices at all in case the market surges later, said Tomas Araujo, a senior trader at StoneX. A shift away from Brazilian beans in the US would likely divert more of those supplies to Europe, offering relief for buyers there that are seeking traceable beans to comply with the bloc's upcoming deforestation rules, according to Dave Behrends, head of trading at Sucafina SA. More beans would also go to the growing coffee market in China, leaving US roasters facing a pricier market. While New York-based Gregorys Coffee is lucky to have had its last shipment from Brazil arrive on Aug. 2 before the higher tariffs kicked in — leaving it supplied until mid-November — it will eventually need to import another batch it already contracted at the higher rate, said CEO Gregory Zamfotis. The company, as well as other smaller roasters, are bracing for the impact. 'Absorbing a 10% tariff is nearly impossible for a small business to do entirely on its own,' said Daria Whalen, the director of coffee at San Francisco-based Ritual Coffee Roasters. 'Some of that has to be passed to customers — and 50% feels staggering and insurmountable.' --With assistance from Anuradha Raghu. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
Elections watchdog agrees to help Kyiv counterpart plan for post-war votes
Britain's elections watchdog has agreed to help its Ukrainian counterpart plan for post-war votes. The co-operation deal will see the Electoral Commission share with Kyiv best practice on cybersecurity and voter education when Ukrainians next go to the polls. Elections are on hold in Ukraine while the country is under martial law, following Russia's invasion in February 2022. 'The delivery of well-run elections that command public confidence and trust is crucial to a healthy and free democracy,' said watchdog chief executive Vijay Rangarajan. He added: 'We are proud to welcome our colleagues and friends from Ukraine to the UK and sign this agreement of co-operation. 'There is a lot that we can learn from each other and deepening the ties between us will help us share expertise and learning in the coming years. 'We stand ready to support Ukraine as it prepares for future post-war elections.' The memorandum of understanding with the Central Election Commission of Ukraine, signed in London, will see the two organisations share information intended to assist the Ukrainian authorities in planning for future post-war elections. The Ukrainian delegation took part in several meetings while in the UK, according to the watchdog, on mis-information, foreign interference, physical security and cybersecurity, as well as discussions about political finance regulation. 'I would call the signing of the memorandum between our institutions a landmark moment that will promote our co-operation and, through the exchange of experience and the adoption of best practices, will help to strengthen democratic values in Ukraine,' chairman of the Ukrainian commission Oleh Didenko said. 'As we prepare for challenging post-war elections, establishing co-operation and familiarising ourselves with important processes such as voting abroad and combating disinformation will enable us to prepare effectively and efficiently for the most challenging elections in our country's history.'
Politico
29 minutes ago
- Politico
Poilievre's back, but 5 more fights could define his future
Poilievre's defeat in April raised questions about whether he should even stay on as party leader. For now, he has the backing of the Conservative caucus — including Conservative MP Damien Kurek, who resigned to trigger this week's race. The riding of Battle River—Crowfoot is one of the safest Conservative districts in the country. Former Conservative MP Kevin Sorenson, who represented the district for 20 years, once joked that even 'a three-legged dog could win in Crowfoot — as long as it was Conservative.' Poilievre won 80 percent of the vote, despite not actually living in the riding. It was a decisive win, but there are more fights ahead. Poilievre vs. Conservative Party Poilievre will face a mandatory leadership review in January. In the April election, Liberals formed a minority government after winning a rare fourth term. The Conservative Party constitution states if a leader does not resign after an election loss, members must vote on whether that leader stays on. Poilievre will return to the House of Commons in September, where he'll go head to head with the prime minister. He will need to prove to Conservatives that he has what it takes to take on Carney. Poilievre vs. Donald Trump Donald Trump's return to power has emerged as the top concern of Canadians. A poll from Nanos, a Canadian polling firm, shows the president and U.S. relations have overtaken 'jobs and the economy' as the top issue for voters. During the federal election, Poilievre focused on affordability and crime, against calls for him to pivot his campaign to address the anxiety Canadians were feeling about the trade war.
