Brewing Up Savings: Bipartisan Push to Eliminate Coffee Tariffs
U.S. Representatives Don Bacon and Ro Khanna propose bipartisan legislation to exempt coffee from tariffs starting January 2025. This initiative targets roasted, decaffeinated coffee, and substitutes to combat high prices from the existing 50% tariff on Brazilian imports, intending to ease costs for American coffee consumers.
In a bid to bring relief to American coffee drinkers, Representatives Don Bacon and Ro Khanna are spearheading bipartisan legislation to remove tariffs on coffee products post-January 2025. This move aims to eliminate import duties on roasted, decaffeinated coffee, and related products.
The 50% tariff, enacted during the Trump administration on Brazilian imports, has significantly impacted prices, with arabica coffee costs soaring by approximately 50% in New York's Intercontinental Exchange.
Brazil once supplied a major portion of coffee to the U.S., but these supplies have dwindled following the tariff imposition. Bacon emphasized it doesn't make sense to tax a staple that isn't domestically grown. Official comments from the involved parties are yet pending.
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