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Coffee prices rise as U.S. imposes tariffs on top exporter Brazil [staradvertiser.com]:

LONDON >> World coffee prices rose today, but gains were muted overall as traders continued to hold out hope that the United States could exempt coffee from its 50% trade tariff on most Brazilian goods.

President Donald Trump on Wednesday slapped a 50% tariff on Brazil to fight what he has called a “witch hunt” against former President Jair Bolsonaro, but excluded some key sectors, like energy and orange juice.

Coffee has not yet been excluded from the 50% tariff, raising the prospect that trade between the world’s largest coffee producer and the top consumer of the commodity could be severely disrupted.

Brazil’s coffee exporters said in a statement they would continue to push for exemptions. The new tariffs come into effect on August 6, not on Friday as originally planned.

“Another week until 50% comes into effect. Most (sector participants are) still hoping for a general coffee exclusion. I think it’s unlikely,” said a Europe-based trader at a top global coffee trade house.

Prices are expected to rise in the short term if a 50% tariff is imposed, with a major upheaval in global trade flows likely as supplies are redirected to new destinations.

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