Latest news with #NationalCoffeeAssociation
Malay Mail
a day ago
- Business
- Malay Mail
Five products to be hit by Trump's incoming tariffs
WASHINGTON, July 30 —The United States is set to raise tariffs on dozens of trading partners Friday if they fail to reach accords with President Donald Trump to avert the higher rates, and this risks raising prices for consumers. Economists have warned that steeper US tariffs, paid for by importers of foreign products, could add to business costs and trickle down to households. The risk is a dampening of consumption — a key driver of the world's biggest economy. Trump's tariffs could impact everything from coffee beans and rice to cocoa, seafood or even electronics. Here are some examples of products in the crosshairs: Coffee Over 99 per cent of America's coffee is imported, according to the National Coffee Association. It told AFP that two-thirds of US adults drink coffee daily. Top suppliers of coffee beans include Brazil, Colombia and Vietnam, according to the United States Department of Agriculture (USDA). But Brazil, which accounted for over 30 per cent of such imports in recent years, faces a 50 per cent tariff threat come August 1. In a letter to Brazil's leadership, Trump cited a judical 'witch hunt' against his right-wing ally, ex-president Jair Bolsonaro, in unveiling the rate. Imports from Vietnam, meanwhile, face a 20 per cent additional tariff even after a deal the Southeast Asian country recently struck with Trump. Shirts Clothing like shirts and sweaters could also become pricier. China, Vietnam and Bangladesh accounted for more than half of US apparel imports from January through May this year, said the American Apparel & Footwear Association. All three countries face different tariff levels under the Trump administration. Chinese goods, which account for nearly a third of apparel imports, were hit by a fresh 30 per cent duty this year — piling atop existing ones. If an existing truce expiring August 12 is not extended, tariffs on products from China could surge even higher, causing companies to halt imports or be forced to pass on more costs. Vietnamese goods accounted for nearly 20 per cent of clothing imports while those from Bangladesh made up about 11 per cent, the association said. Trump has threatened to impose a 35 per cent duty on Bangladesh goods. Jasmine rice The United States is the biggest rice importing country in the Western Hemisphere, bringing in some 1.3 million tons, according to the USDA. More than 60 per cent of the country's rice imports are aromatic varieties, mostly jasmine from Thailand and basmati from India and Pakistan. Thailand faces a prospective 36 per cent tariff come Friday, India 26 per cent and Pakistan, 29 per cent. The United States also takes in smaller quantities of medium and short-grained rice from Asia and some products from South America. Cocoa US imports of cocoa beans—mostly from places like the Ivory Coast and Ecuador—averaged over US$1.1 billion (RM4.66 billion) annually from 2017 to 2021, according to the USDA. Among them, the Ivory Coast faces a 21 per cent tariff. Cocoa butter shipments were valued at US$576 million annually and mainly supplied by Indonesia and Malaysia, facing fresh duties of 19 per cent and 25 per cent respectively. Electronics Besides tariffs on imports from specific countries, Trump has also threatened a 50 per cent duty on copper imports come August 1. Consulting firm BCG warned that this would add US$8.6 billion to the cost of raw copper and refined copper imported into the country—and more if tariffs extended into derivative products. BCG expects material costs to jump for the construction industry — which uses 42 per cent of copper products consumed domestically — and makers of electronics goods. — AFP
New Straits Times
2 days ago
- Business
- New Straits Times
Five products to be hit by Trump's incoming tariffs
WASHINGTON: The United States is set to raise tariffs on dozens of trading partners Friday if they fail to reach accords with President Donald Trump to avert the higher rates, and this risks raising prices for consumers. Economists have warned that steeper US tariffs, paid for by importers of foreign products, could add to business costs and trickle down to households. The risk is a dampening of consumption – a key driver of the world's biggest economy. Trump's tariffs could impact everything from coffee beans and rice to cocoa, seafood or even electronics. Here are some examples of products in the crosshairs: Over 99 per cent of America's coffee is imported, according to the National Coffee Association. It told AFP that two-thirds of US adults drink coffee daily. Top suppliers of coffee beans include Brazil, Colombia and Vietnam, according to the United States Department of Agriculture (USDA). But Brazil, which accounted for over 30 per cent of such imports in recent years, faces a 50 per cent tariff threat come August 1. In a letter to Brazil's leadership, Trump cited a judical "witch hunt" against his right-wing ally, ex-president Jair Bolsonaro, in unveiling the rate. Imports from Vietnam, meanwhile, face a 20 per cent additional tariff even after a deal the Southeast Asian country recently struck with Trump. Clothing like shirts and sweaters could also become pricier. China, Vietnam and Bangladesh accounted for more than half of US apparel imports from January through May this year, said the American Apparel & Footwear Association. All three countries face different tariff levels under the Trump administration. Chinese goods, which account for nearly a third of apparel imports, were hit by a fresh 30 percent duty this year – piling atop existing ones. If an existing truce expiring August 12 is not extended, tariffs on products from China could surge even higher, causing companies to halt imports or be forced to pass on more costs. Vietnamese goods accounted for nearly 20 per cent of clothing imports while those from Bangladesh made up about 11 per cent, the association said. Trump has threatened to impose a 35 per cent duty on Bangladesh goods. The United States is the biggest rice importing country in the Western Hemisphere, bringing in some 1.3 million tons, according to the USDA. More than 60 per cent of the country's rice imports are aromatic varieties, mostly jasmine from Thailand and basmati from India and Pakistan. Thailand faces a prospective 36 per cent tariff come Friday, India 26 per cent and Pakistan, 29 percent. The United States also takes in smaller quantities of medium and short-grained rice from Asia and some products from South America. US imports of cocoa beans – mostly from places like the Ivory Coast and Ecuador – averaged over $1.1 billion annually from 2017 to 2021, according to the USDA. Among them, the Ivory Coast faces a 21 per cent tariff. Cocoa butter shipments were valued at US$576 million annually and mainly supplied by Indonesia and Malaysia, facing fresh duties of 19 per cent and 25 per cent respectively. Besides tariffs on imports from specific countries, Trump has also threatened a 50 per cent duty on copper imports come August 1. Consulting firm BCG warned that this would add US$8.6 billion to the cost of raw copper and refined copper imported into the country – and more if tariffs extended into derivative products. BCG expects material costs to jump for the construction industry – which uses 42 per cent of copper products consumed domestically – and makers of electronics goods.
Time of India
2 days ago
- Business
- Time of India
US tariffs take effect Friday: 5 key imports face steep hikes; economic fallout looms
AI-generated image The US plans to impose higher tariffs on several major trading partners starting Friday unless new agreements are reached with President Donald Trump- raising concerns over rising consumer prices and economic strain. Financial experts warn the proposed tariffs, which must be paid by importers of foreign goods, will likely increase operating costs and reduce household spending—potentially dampening consumption, a key driver of the US economy. Key products affected Coffee The National Coffee Association says the US imports over 99 per cent of its coffee, with two-thirds of American adults drinking it daily. Top suppliers include Brazil, Colombia, and Vietnam. Brazil, accounting for over 30 per cent of US imports, will face a 50 per cent tariff from August 1. Trump announced the rate in a letter to Brazil's leadership, referencing what he called a judicial 'witch hunt' against his ally, ex-president Jair Bolsonaro. Vietnam, despite a recent agreement with Trump, will see a 20 per cent tariff imposed. Apparel According to the American Apparel & Footwear Association, China, Vietnam, and Bangladesh supplied over half of US apparel imports from January to May. Chinese goods, nearly one-third of the total, now carry a new 30 per cent duty—on top of existing tariffs. If the current tariff truce lapses on August 12, duties may rise further. Vietnam and Bangladesh face 20 per cent and 35 per cent tariffs, respectively, under Trump's latest proposals. Jasmine rice The US is the largest rice importer in the Western Hemisphere, with over 1.3 million tonnes annually—more than 60 per cent of it being aromatic varieties like jasmine and basmati. Thailand will face a 36 per cent duty, India 26 per cent, and Pakistan 29 per cent starting Friday. Cocoa USDA data shows cocoa bean imports—mainly from Ivory Coast and Ecuador—averaged over $1.1 billion annually (2017–2021). Ivory Coast faces a 21 per cent tariff. Cocoa butter imports worth $576 million, primarily from Indonesia and Malaysia, will now face duties of 19 per cent and 25 per cent, respectively. Electronics and raw materials Trump has also proposed a sweeping 50 per cent tariff on copper imports from August 1. According to BCG, this could add $8.6 billion to the cost of imported copper, with further increases possible if extended to related products. The construction sector—using 42 per cent of domestic copper—along with electronics manufacturing, is expected to face the brunt of rising input costs. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Straits Times
2 days ago
- Business
- Straits Times
Five products to be hit by Trump's incoming tariffs
Sign up now: Get ST's newsletters delivered to your inbox Economists have warned that steeper US tariffs, paid for by importers of foreign products, could add to business costs and trickle down to households. WASHINGTON - The United States is set to raise tariffs on dozens of trading partners on Aug 1 if they fail to reach accords with President Donald Trump to avert the higher rates, and this risks raising prices for consumers. Economists have warned that steeper US tariffs, paid for by importers of foreign products, could add to business costs and trickle down to households. The risk is a dampening of consumption – a key driver of the world's biggest economy. Mr Trump's tariffs could impact everything from coffee beans and rice to cocoa, seafood or even electronics. Here are some examples of products in the crosshairs. Coffee Over 99 per cent of America's coffee is imported, according to the National Coffee Association. It told AFP that two-thirds of US adults drink coffee daily. Top suppliers of coffee beans include Brazil, Colombia and Vietnam, according to the United States Department of Agriculture (USDA). Top stories Swipe. Select. Stay informed. Asia Japan issues tsunami warning after 8.8-magnitude earthquake strikes off Russia Business S'pore's Q2 total employment rises, but infocomm and professional services sectors see more job cuts Business MAS keeps Singapore dollar policy unchanged amid US tariff risks to economy Singapore Singapore prepared to recognise State of Palestine in principle; goal is to reach peace, 2-state solution Business Cathay Cineplexes ropes in restructuring specialist as more payment demands pile up Opinion Nobel Prize? Maybe not, but give Asean credit for Cambodia-Thailand ceasefire Asia Fragile Cambodia-Thailand truce faces challenges on day one Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Two-thirds of US adults drink coffee daily. PHOTO: REUTERS But Brazil, which accounted for over 30 per cent of such imports in recent years, faces a 50 per cent tariff threat come Aug 1. In a letter to Brazil's leadership, Mr Trump cited a judical 'witch hunt' against his right-wing ally, former -president Jair Bolsonaro, in unveiling the rate. Imports from Vietnam, meanwhile, face a 20 per cent additional tariff even after a deal the South-east Asian country recently struck with Mr Trump. Shirts China, Vietnam and Bangladesh accounted for more than half of US apparel imports from January through May 2025. PHOTO: BLOOMBERG Clothing like shirts and sweaters could also become pricier. China, Vietnam and Bangladesh accounted for more than half of US apparel imports from January through May 2025, said the American Apparel & Footwear Association. All three countries face different tariff levels under the Trump administration. Chinese goods, which account for nearly a third of apparel imports, were hit by a fresh 30 per cent duty in 2025 – piling atop existing ones. If an existing truce expiring on Aug 12 is not extended, tariffs on products from China could surge even higher, causing companies to halt imports or be forced to pass on more costs. Vietnamese goods accounted for nearly 20 per cent of clothing imports while those from Bangladesh made up about 11 per cent, the association said. Mr Trump has threatened to impose a 35 per cent duty on Bangladesh goods. Jasmine rice More than 60 per cent of the US' rice imports are aromatic varieties, mostly jasmine from Thailand. PHOTO: REUTERS The United States is the biggest rice importing country in the Western Hemisphere, bringing in some 1.3 million tons, according to the USDA. More than 60 per cent of the country's rice imports are aromatic varieties, mostly jasmine from Thailand and basmati from India and Pakistan. Thailand faces a prospective 36 per cent tariff come Aug 1, India 26 per cent and Pakistan, 29 per cent. The United States also takes in smaller quantities of medium and short-grained rice from Asia and some products from South America. Cocoa US imports of cocoa beans, mostly from places like the Ivory Coast and Ecuador. PHOTO: REUTERS US imports of cocoa beans – mostly from places like the Ivory Coast and Ecuador – averaged over US$1.1 billion (S$1.4 billion) annually from 2017 to 2021, according to the USDA. Among them, the Ivory Coast faces a 21 per cent tariff. Cocoa butter shipments were valued at US$576 million annually and mainly supplied by Indonesia and Malaysia, facing fresh duties of 19 per cent and 25 per cent respectively. Electronics Mr Trump has threatened a 50 per cent duty on copper imports come August 1. PHOTO: AFP Besides tariffs on imports from specific countries, Mr Trump has also threatened a 50 per cent duty on copper imports come Aug 1. Consulting firm BCG warned that this would add US$8.6 billion to the cost of raw copper and refined copper imported into the country – and more if tariffs extended into derivative products. BCG expects material costs to jump for the construction industry – which uses 42 per cent of copper products consumed domestically – and makers of electronics goods. AFP
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
Five Products To Be Hit By Trump's Incoming Tariffs
The United States is set to raise tariffs on dozens of trading partners Friday if they fail to reach accords with President Donald Trump to avert the higher rates, and this risks raising prices for consumers. Economists have warned that steeper US tariffs, paid for by importers of foreign products, could add to business costs and trickle down to households. The risk is a dampening of consumption -- a key driver of the world's biggest economy. Trump's tariffs could impact everything from coffee beans and rice to cocoa, seafood or even electronics. Here are some examples of products in the crosshairs: Over 99 percent of America's coffee is imported, according to the National Coffee Association. It told AFP that two-thirds of US adults drink coffee daily. Top suppliers of coffee beans include Brazil, Colombia and Vietnam, according to the United States Department of Agriculture (USDA). But Brazil, which accounted for over 30 percent of such imports in recent years, faces a 50 percent tariff threat come August 1. In a letter to Brazil's leadership, Trump cited a judical "witch hunt" against his right-wing ally, ex-president Jair Bolsonaro, in unveiling the rate. Imports from Vietnam, meanwhile, face a 20 percent additional tariff even after a deal the Southeast Asian country recently struck with Trump. Clothing like shirts and sweaters could also become pricier. China, Vietnam and Bangladesh accounted for more than half of US apparel imports from January through May this year, said the American Apparel & Footwear Association. All three countries face different tariff levels under the Trump administration. Chinese goods, which account for nearly a third of apparel imports, were hit by a fresh 30 percent duty this year -- piling atop existing ones. If an existing truce expiring August 12 is not extended, tariffs on products from China could surge even higher, causing companies to halt imports or be forced to pass on more costs. Vietnamese goods accounted for nearly 20 percent of clothing imports while those from Bangladesh made up about 11 percent, the association said. Trump has threatened to impose a 35 percent duty on Bangladesh goods. The United States is the biggest rice importing country in the Western Hemisphere, bringing in some 1.3 million tons, according to the USDA. More than 60 percent of the country's rice imports are aromatic varieties, mostly jasmine from Thailand and basmati from India and Pakistan. Thailand faces a prospective 36 percent tariff come Friday, India 26 percent and Pakistan, 29 percent. The United States also takes in smaller quantities of medium and short-grained rice from Asia and some products from South America. US imports of cocoa beans -- mostly from places like the Ivory Coast and Ecuador -- averaged over $1.1 billion annually from 2017 to 2021, according to the USDA. Among them, the Ivory Coast faces a 21 percent tariff. Cocoa butter shipments were valued at $576 million annually and mainly supplied by Indonesia and Malaysia, facing fresh duties of 19 percent and 25 percent respectively. Besides tariffs on imports from specific countries, Trump has also threatened a 50 percent duty on copper imports come August 1. Consulting firm BCG warned that this would add $8.6 billion to the cost of raw copper and refined copper imported into the country -- and more if tariffs extended into derivative products. BCG expects material costs to jump for the construction industry -- which uses 42 percent of copper products consumed domestically -- and makers of electronics goods. China, Vietnam and Bangladesh -- whose workers are seen here -- accounted for more than half of US apparel imports in the first five months of 2025 AFP A stevedore in Guayaquil, Ecuador loads a sack of cocoa into a container for export AFP
