The US National Coffee Association (NCA) has appealed to the Donald Trump administration to exempt coffee from additional duties. This is reported by Reuters, writes UNN.
Details
In a letter to US Trade Representative James Greer, NCA head Bill Murray stated that new import duties from Canada and Mexico could raise coffee prices in the US by 50%.
Unlike other cases where duties can solve the problem of unfair practices, there is no alternative to imported coffee
NCA, which has more than 200 companies, emphasizes the importance of the coffee market for the US economy. According to their data, this industry brings the country 343 billion dollars a year.
Due to the interconnectedness of the coffee business in the USA, Canada and Mexico, the new duties may create "great uncertainty" for the industry, the association notes. Most types of coffee are not included in the USMCA free trade agreement, so after the entry into force of the 25% tariff, they will face additional fees.
In addition, the NCA called on the White House to refrain from imposing duties on suppliers from South America, such as Brazil and Colombia. The potential introduction of tariffs has already provoked a jump in wholesale coffee prices, which in February exceeded $4 per pound.