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Buzz Feed
14-05-2025
- Business
- Buzz Feed
How Trump's Tariffs Are Going To Affect Coffee Prices
Over the past month, President Donald Trump has instilled high tariffs on countries like China, Canada, and Mexico while sparking a trade war with China. He paused some tariffs for 90 days, but the damage has already been done. For the first time in U.S. history, the government has placed a blanket 10% tariff on every single country, which Michael Coon, an associate professor of economics at the University of Tampa, calls 'unusual.' 'The only place you really see something like that is in lower-income countries that don't have the infrastructure to collect income taxes,' Coon told HuffPost. 'It's easier for them to collect tariffs at the port because you have to set up a customs office on the dock.' But what exactly are tariffs, and how do they affect the cost of the groceries you buy in your everyday life? 'Tariffs are basically a tax on imported goods,' Coon said. 'It's very similar to a sales tax. Anything we import from any other country is going to cost 10% more. In Mexico and Canada, we have a 25% tariff on most goods, and so that would raise prices by 25%. And Canada and Mexico are two of our biggest trading partners.' Many foods will be hit by tariffs, particularly produce like mangos, vanilla, bananas, summertime apples, and cocoa that cannot be grown in bulk in the U.S., so we have no choice but to import them. But if you want a perfect example of an everyday food whose tariff will impact your life, coffee is a good one to examine. Coon cited that in 2023, the U.S. imported $7.85 billion worth of coffee. 'A 10% tariff means that Americans are going to pay an extra $785 million for coffee,' he said. The problem is, a commodity like coffee can't be grown in large supplies in America. For instance, Hawaii and Puerto Rico are the only regions where coffee can be grown here, and they make up around 1% of all the coffee grown globally. 'The United States consumes roughly 20% of the world's coffee,' Coon said. 'That means everybody's coffee is going to get more expensive, and we get a large share of our coffee from Mexico. I suspect that the 25% tariffs will stay on Mexico. We will import more from other countries, but that'll maybe possibly drive the price up even further than the 10% tariffs, as the increase in demand from those countries would track the price up.' Heather Perry is the CEO of coffee roaster Klatch Coffee and has already seen the tariffs affect the coffee market. 'What's interesting is coffee has never been subject to tariffs before, because it does not grow in the U.S.,' she said. As she explained, if the 46% tariff on Vietnam takes effect, it would cause Robusta coffee to become more expensive than Arabica, and Vietnam is the largest grower of Robusta and the second-largest coffee producer in the world. 'For somebody like us, not only do you have a little less supply potentially available in the Arabica market if reciprocal tariffs were to take place, but you also have within specialty coffee some countries that would take some high tariffs. ' Sumatra has a 32% tariff. Sumatra, for us in particular, is a really big component of some of our biggest blends we sell. While at 10%, we are taking a little bit of a wait-and-see approach on the retail side of things, at 32%, that would be really impactful. We would have to absolutely either raise prices somehow or rework blends or a combination of the two.' The chaos has already forced Klatch to create a separate line item for tariffs. 'Assuming the tariffs go away, that line item goes away,' Perry said. 'So this does not become a permanent price increase but just something to absorb those costs of the tariffs so we can continue to maintain in other areas. On the retail side, we are playing a wait-and-see. We are both retail and wholesale, and my retail stores buy from the wholesale division of our company. So even if wholesale puts a tariff line to my stores on the retail side, I would incur that higher cost, and I would for the moment not pass anything on to consumers and just watch everything really closely.' Another issue Klatch has to consider is packaging, which they acquire from Hong Kong. 'We're trying to figure out if Hong Kong is subject to a 145% tariff or not,' Perry said. 'As you're trying to do your business planning and budgeting, it becomes very difficult. We're all kind of working off of best guesses at this point.' What can consumers do about tariffs? Both Coon and Perry agree that there's not much people can do. 'If you rush out and you panic and you try to buy all of these things now before the tariffs go into place, basic supply and demand causes the price to go up anyway,' he said. 'If you're the first one to stock up, you might luck out. But that'll just drive up prices for everybody else.' And unfortunately, the tariffs will affect low-income people the most. Perry suggested that people write to their Congresspeople and demand that the government keep coffee exempt from tariffs. 'Coffee should be exempt from tariffs,' Perry said. 'Coffee is a staple. It's been part of this country since its founding.' She said cheap coffee has experienced more of a price hike than specialty coffee, and to purchase the latter in bulk. 'Make sure you're buying really good coffee and make sure you're buying coffee from roasters that are finding you those values,' she said. 'You have to be more intentional with your dollar. What's really worth my dollar right now? Where do I taste and say, 'man, that's really delicious?' Where are you getting fresh roasted coffee from? Honestly, something found on your grocery shelves is probably not worth your money right now.' Trae Bodge, a smart shopping expert, recommended shopping online for deals. 'It's easier to compare prices across multiple e-tailers and utilize savings tools when you shop online,' Trae said. 'For example, installing a browser extension, like the Sidekick by will automatically alert you to available cashback offers and coupons that you click to activate. A tool like this will also run coupons for you at checkout.' She also suggested shopping at low-cost retailers like Dollar General and purchasing store brands instead of brand names. 'Store brands are typically cheaper and often have the same ingredient listing as the store brand,' she said. All of the volatility with the tariffs has given consumers and small businesses whiplash. It remains to be seen if the 90-day pause will be lifted or if the trade war with China will continue. Either way, we are living — and spending too much money — during these unprecedented times. 'I think there's a pretty good chance of a recession,' Coon said. 'If something doesn't give soon, it's going to get a lot worse before it gets better.' 'It's a wild ride,' Perry said. 'We're all just hanging on.' Hungry for more? Download our free Tasty app to browse and save 7,500+ free recipes — no subscription required.
Associated Press
23-04-2025
- Business
- Associated Press
Entrex Florida Market and University of Tampa Launch 'Revenue Realities' Series: A Comparative Analysis of Revenue and Equity Valuation in Public and Private Markets
Boca Raton, FL April 22, 2025 --( )-- Entrex Florida Market (OTC: RGLG), in collaboration with the University of Tampa's Sykes College of Business and the Lowth Entrepreneurship Center, is pleased to announce the release of the inaugural edition of Revenue Realities—which first edition shall compare 20 years of revenue performance and stock price behavior of the 30 companies within the Dow Jones Industrial Average. Download here: 'Entrex's marketplace solutions use revenue-enhanced, fixed-income debt securities—branded as TIGRcubs™—to create tradable, risk-adjusted investment instruments for private corporate issuers,' said Stephen H. Watkins, CEO of Entrex Florida Market. 'Through Revenue Realities, we aim to demonstrate how company revenues more accurately reflect fundamental business performance, while equity valuations are often driven by market sentiment.' Thomas Harblin, Partner at Entrex Florida Market, added: 'With over 33 million private companies in the U.S., traditional equity investing presents challenges—particularly when it comes to valuation and liquidity. By focusing on revenue-based performance, we draw inspiration from early investment models such as the London Stock Exchange's royalty-based structures. The logic remains: revenue offers measurable, consistent indicators of value.' Revenue Realities will also complement the Florida Private Company Index ( ), which tracks top-line performance among private businesses throughout the state. 'Our various indexes will bring clarity to Florida's private market landscape, offering both regional and statewide insights into revenue trends,' Harblin said. 'It enables transparency and creates a benchmark for private company investors.' Watkins concluded, 'Our next goal is to formalize an investable index of Florida's leading private companies. Modeled after indices like the NASDAQ, the Florida Private Company Index and the inaugural TampaTwenty founding members, will allow investors diversified access to the growth engine of Florida's private sector.' About Entrex Florida Market: The Entrex Florida Market provides Florida-based companies access to alternative capital from investors across the state. Companies can raise capital directly or through diversified investment vehicles tied to the Florida Private Company Index. Entrex licenses its proprietary and blockchain-enabled technologies—built on IBM's Domino and Hyperledger platforms—to create alternative trading platforms for private securities. Working with originating and placement broker-dealers, Entrex enables compliant trading ecosystems for entrepreneurial enterprises. Contact Information: Entrex Florida Market Stephen H. Watkins 877-436-8739 Contact via Email Read the full story here: Entrex Florida Market and University of Tampa Launch 'Revenue Realities' Series: A Comparative Analysis of Revenue and Equity Valuation in Public and Private Markets Press Release Distributed by
Yahoo
15-04-2025
- Business
- Yahoo
Trump's tariff policies hurt local businesses like this West Palm Beach team
President Donald Trump's imposition of triple-digit tariffs on imported goods from China has had global implications. But it is also throwing local businesses in existential turmoil. Take, for example, Michael and Shirah Benarde, a West Palm Beach brother and sister who turned a novel idea into an international business. The Benardes, ages 27 and 22, respectively, came up with a relatively inexpensive safety item that women can use to prevent their drinks in bars from being spiked with date-rape drugs that contain the tranquilizer Rohypnol, commonly called 'roofies.' The item is a hair scrunchie that can also be worn as a wristband. Inside it is a compartment holding a nylon-spandex circular piece of fabric that can be removed. It fits snugly over the top of a glass or cup, and includes a slit for a drinking straw. The Benardes called their invention the 'NightCap' and pitched it successfully four years ago on the ABC TV show Shark Tank. 'I love this,' Lori Greiner, one of the show's entrepreneurs, told them on the show. 'I don't ever think I've seen a product that came to the Shark Tank that resonated more deeply to me in a social mission way than this." She offered to invest $60,000, and the NightCap took off, with sales reaching $2.1 million in the year after the show aired. It has continued to grow with the NightCap being promoted at colleges and universities across the U.S. and sold in 40 countries. 'I am worried constantly for young women, when women are getting their drinks drugged, they're getting assaulted,' Greiner continued. 'It's a horrible thing and it's super common and I think this is genius.' The future looked bright for the Benardes until Trump began announcing escalating tariffs on Chinese goods during the past couple of weeks. When the Benardes first came up with their product, they found a company in Texas that would make the NightCaps for them. But the price was prohibitive: The U.S. company charged about $4 per scrunchie, which was just about the wholesale price for the item. 'We found out there really isn't a textile manufacturing option in the United States,' Michael Benarde said. 'The labor and materials are too high here.' So, they found a third party who linked them to a factory in China that could make their product at a fraction of the cost. 'The Chinese product was a higher quality too,' Benarde said. Things were going so good that Shirah Bernarde, who had been enrolled as a student at the University of Tampa, quit college to devote more time to their growing business. But today their business is suddenly in limbo as Trump keeps threatening China by imposing tariffs of 7 percent, then 27 percent, then 104 percent, then 125 percent, then 145 percent on exports to the United States. What next? The daily uncertainty of these mercurial, subjective and escalating tariffs have paralyzed the Benardes' thriving business. The way tariffs work is that the importers pay the rate that's in effect the day the product arrives at a U.S. port, not when it's ordered. For the Benardes, that means the product they ordered when, say a 7 percent tariff was in effect, could actually be billed at something like 145 percent when it arrives on the dock. To put that in dollar terms, a $50,000 order now comes off the ship with a tariff surcharge of $77,000 instead of $3,500. For a small business, that's a margin killer. The timing of these improvised tariff announcements further stokes the uncertainty. It takes the Chinese manufacturer a couple of weeks to fulfill the NightCap order, and then another matter of weeks for the product to be packaged and shipped by sea on a freighter to a U.S. port in either California or Texas. With the tariffs — both projected and real — changing daily, the Benardes have no way to estimate the future costs of their operation. Every order is a roll of the dice, subject to Trump's latest social media impulse. 'It should be illegal to add tariffs without a 90-day notice to give businesses a chance to know the costs,' Benarde said. The way things stand now, the Benardes could make a bulk purchase that anticipates a tariff that will be long out of date by the time the product actually gets to the United States. 'Logistically, we can't really do anything,' Benarde said. 'They're doubling the cost of goods — but even with that, it's still cheaper having them made in China.' So, is China paying for the higher cost of the Bernardes successful product? No, the Benardes are paying for it, and depending on how high the tariffs get, so will their customers. Opinion: Trump delivers a pièce de résistance in defense of the English language. Bravo! 'I wouldn't be surprised if the tariff gets higher,' Benarde said. That may lead him and his sister to look for a manufacturer in another country, like Vietnam. Although there's still no guarantee what will happen to tariffs there once the current moratorium on tariff changes in that country is lifted. Whatever happens, these things are true: There's not going to be a textile manufacturing renaissance in the United States that pops up in time to rescue the Benardes' small business. And even with high tariffs on Chinese-made products, it's still cheaper for the Benardes to import the product from there than to manufacture it in the United States. Opinion: Does Florida need a Trump library or are lawmakers worshipping at the altar again? So, who's really being hurt here? Trump's wild tariff policy — the product of personal whim more than careful analysis — is more an act of uninformed retribution against a foreign company that creates heavy collateral damage to U.S. companies and their customers. 'At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable,' Trump posted on social media last week. But it sure looks like the people being 'ripped off' are those like the Benardes and a whole lot of American women who've been slipped an economic roofie by Trump and told to just 'be cool' about it. Frank Cerabino is a news columnist with The Palm Beach Post, part of the USA Today Network-Florida. He can be reached at fcerabino@ This article originally appeared on Palm Beach Post: West Palm Beach business is collateral in Trump tariff war | Opinion
Yahoo
25-03-2025
- Yahoo
Watch: Boater recorded boating recklessly down Hillsborough River near UTampa tracked down: FWC
The Brief On Monday, the FWC cited a boater for reckless boating along the Hillsborough River. The boater was recorded boating recklessly near the University of Tampa and the Tampa Riverwalk. Monday's citation follows a two-day investigation by the FWC that included working with a local boat company, gathering witness statements, and reviewing video evidence. TAMPA, Fla. - A Saturday boating proved too much fun for a Tampa boater come Monday morning. That's because Florida's Fish and Wildlife Conservation Commission (FWC) cited them for reckless boating near the University of Tampa and the Tampa Riverwalk. What we know A two-day investigation by FWC led them to track down the boater, who was cited for reckless boating along the Hillsborough River. READ: Man accused of killing dog by setting it on fire arrested on Courtney Campbell Causeway: TPD FWC says they worked closely with a local boat company, gathered multiple witness statements, and reviewed the video evidence of the boater before issuing the citation. After learning the boater's identity, FWC says they interviewed them and gave the citation. What we don't know The identity of the boater is unknown to FOX 13, as is the name of the boat company. What they're saying The FWC says they "remain committed to ensuring the safety of Florida's waterways" and urge boaters "to follow the rules, respect wildlife and prioritize the safety of others on the water." The Source This story was written with information provided by the Florida Fish and Wildlife Conservation Commission. STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app: Apple | Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter
Yahoo
14-03-2025
- Politics
- Yahoo
Trump's federal warnings to USF and Tampa? They don't say much.
The Department of Education announced Monday that 60 colleges and universities could face 'potential enforcement actions' if they didn't step up to protect Jewish students on campus, 'including uninterrupted access to campus facilities and education opportunities.' On that list of 60 institutions were the University of South Florida and the University of Tampa — both of which told the Tampa Bay Times they had not received the letters after the department made its announcement on Tuesday. Despite the ominous warnings of enforcement actions, the letters themselves contain no concrete allegations, no specific changes the schools must make and no mention of the potential punishments if they don't. USF is under investigation for alleged violations of Title VI of the Civil Rights Act, which prohibits discrimination on the bases of race, color and national origin. But the school was informed of that complaint in February 2024, and has been fully cooperating with the review, which is ongoing, said spokesperson Althea Johnson. 'Importantly, in its communication with USF, the U.S. Department of Education has stated that opening an investigation in no way implies that a determination has been made on the merits of the complaint,' she added. So why send a letter at all? 'The prior administration remained tepid, either reaching toothless resolution agreements with schools or allowing complaints to accumulate,' wrote Craig Trainor, the Department's Acting Assistant Secretary for Civil Rights. 'I write to remind you of your legal obligations under Title IV of the Civil Rights Act.' It's not unheard of for different administrations to focus on different areas of enforcement, said Robert Shibley, special council for campus advocacy at the Foundation for Individual Rights and Expression. Under the Obama administration, the Department in 2011 sent a formal letter to federally funded institutions outlining its updated interpretation of Title IX, which prohibits discrimination on the basis of gender. 'The statistics on sexual violence are both deeply troubling and a call to action for the nation,' the department wrote. The 19-page letter, since rescinded under Trump, clearly communicated that this would be the department's priority, Shibley said. 'These kinds of shot-across-the-bow letters aren't new,' Shibley said. But the education department under former President Joe Biden had already communicated that antisemitic discrimination was a priority in the wake of the Oct. 7 attack on Israel. 'This letter is just turning up the volume and focusing the message on these 60 institutions,' Shibley said. The incident that landed the University of Tampa on that list occurred in September 2023, roughly a month before the Oct. 7 attack, said spokesperson Eric Cardenas. 'The incident was resolved through the student conduct process,' he said. 'The university has fully complied with the (U.S. Department of Education's Office of Civil Rights) review to date.' Florida's public universities, including USF, were quick to adopt stricter campus protest rules in the wake of the Oct. 7 attack. The school now prohibits protests past 5 p.m. and asks for preapproval to host events on campus. 'You can say whatever you want about Israel, pro or con,' Gov. Ron DeSantis said at an April 2024 press conference. 'What you don't have a right to do is commandeer property. You don't have a right to harass individual students or faculty members.' The state has also signaled support for Trump's executive order instructing immigration officials to deport student protesters who voiced criticism of Israel as the conflict in Gaza intensified. 'It is a privilege for foreign students to attend universities in Florida or any other state in the country,' said State University System Chancellor Ray Rodrigues. 'Those who break the law or pose a threat to the safety and security of U.S. citizens should be concerned about losing the privilege of being in America.' The question of how to distinguish speech that is critical of Israel from speech that is antisemitic has always posed a problem in higher education, Shibley said. 'I sometimes question whether it's even possible,' he said. But the Department of Education's letter did nothing to clarify that distinction, and unlike the Obama administration's 2011 letter on Title IX complaints, it failed to outline the department's expectation for enforcement. 'If 100 people are carrying signs one day it's a protest and protected, but what if you're person 101 and someone complains that now it's a hostile environment, do you have the same rights as the first 100 people?' Shibley said. 'When schools have to deal with this kind of uncertainty, this invisible threshold, the natural reaction is to just shut it all down.'
