Coffee is a beloved beverage for millions of Americans, with two-thirds of adults enjoying it daily. However, the rising prices of coffee, which have surged by 39% over the past year, are causing concern among consumers. This increase is largely due to tariffs imposed on coffee imports from Brazil and Vietnam, the world's largest coffee suppliers. These tariffs, reaching up to 50%, are part of broader trade policies that have been challenged in court. A bipartisan bill, the "No Coffee Tax Act," has been introduced to repeal these tariffs, aiming to alleviate the financial burden on American coffee drinkers.
• Coffee consumption is a global phenomenon, with 2.25 billion cups consumed daily.
• Tariffs have made coffee significantly more expensive, impacting consumers directly.
• The U.S. cannot produce enough coffee to meet demand, making imports essential.
• The "No Coffee Tax Act" seeks to eliminate tariffs on coffee products.
The rising cost of coffee matters because it affects everyday consumers and the economy. With coffee shops generating over $68 billion in sales annually, high prices could lead to reduced sales and impact jobs in the industry. As coffee remains a staple in American culture, addressing these tariffs is crucial for maintaining affordability and access to this beloved drink.
Enjoying the read? Subscribe for free to one of the fastest-growing newsletters and get weekly coffee news (TL;DR updates) delivered right to your inbox.