The U.S. is preparing to hike tariffs on dozens of countries starting Friday, unless new trade deals are reached with President Donald Trump. The move could significantly increase costs for importers and eventually, consumers affecting goods from coffee to electronics.
Economists warn that higher tariffs, which are paid by importers, may inflate business expenses and suppress consumer spending a vital pillar of the American economy.
Key imports under threat include:
Coffee: Over 99% of U.S. coffee is imported. Brazil, a major supplier, faces a 50% tariff, while Vietnam, another top source, is set for a 20% rate despite a recent trade agreement.
Clothing: Apparel from China, Vietnam, and Bangladesh collectively over half of U.S. clothing imports could see new or rising duties up to 35%. This threatens price hikes on shirts, sweaters, and more.
Rice: The U.S., the top rice importer in the Western Hemisphere, may slap tariffs of up to 36% on jasmine and basmati rice from Thailand, India, and Pakistan.
Cocoa Products: Cocoa beans and derivatives from Ivory Coast, Ecuador, Indonesia, and Malaysia could face levies ranging from 19% to 25%, potentially raising chocolate costs.
Electronics & Copper: A 50% tariff on copper imports may impact industries from construction to tech, with consulting firm BCG predicting an $8.6 billion rise in copper-related expenses.
With tensions mounting and trade talks unresolved, consumers and industries alike brace for the economic ripple effects of Trump’s renewed protectionist push.
