U.S. consumers face sharp price increases on essential food items like coffee and orange juice should the Trump administration proceed with its plan to levy a 50 percent tariff on all imports from Brazil, traders and experts say.
President Donald Trump announced new tariffs on Wednesday, which included raising the duty on Brazilian imports from 10 percent to 50 percent, effective from August 1, despite the U.S. having a $7.4 billion trade surplus with Brazil, according to U.S. Census Bureau data.
