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Global coffee prices fell sharply on Friday after US President Donald Trump<\/strong> announced the removal of a 40% import tariff on agricultural products from Brazil \u2014 including coffee and cocoa \u2014 amid rising concern over soaring food prices in the United States.<\/p>\n Reuters reported that global coffee futures dropped steeply on November 21, as traders responded to the tariff rollback and a growing political backlash over high living costs, which have pushed Trump\u2019s approval ratings to their lowest levels since returning to office earlier this year.<\/p>\n Arabica coffee futures on the ICE exchange \u2014 the global benchmark \u2014 plunged more than 6% to a two-month low during intraday trading. By around 17.17 Thailand time, prices had pared losses but were still down 4.6% at US$3.5925 per pound.<\/p>\n Robusta futures, widely used in instant coffee, fell as much as 8% during the session before settling about 5% lower at US$4,400 per tonne in the evening.<\/p>\n Coffee inflation pressures US consumers<\/strong><\/p>\n Retail coffee prices in the United States jumped 40% year-on-year in September, partly due to the existing tariffs. More expensive food has become a key factor dragging down Trump\u2019s popularity, according to a recent Reuters\/Ipsos poll.<\/p>\n Last week, Trump issued a similar directive to cut import tariffs on coffee and other agricultural goods from multiple producing countries in an attempt to ease domestic inflationary pressure.<\/p>\n Brazil \u2014 the world\u2019s largest coffee producer \u2014 accounts for roughly one-third of US coffee imports. The United States is the world\u2019s largest consumer of coffee.<\/p>\n","protected":false},"excerpt":{"rendered":"Global coffee prices fell sharply on Friday after US President Donald Trump announced the removal of a 40%…\n","protected":false},"author":2,"featured_media":195244,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[9,79,6281,62474,179,18,19,17,4057,98874,1255,187],"class_list":{"0":"post-195243","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-breaking-news","9":"tag-business","10":"tag-coffee","11":"tag-drop","12":"tag-economy","13":"tag-eire","14":"tag-ie","15":"tag-ireland","16":"tag-prices","17":"tag-scrap","18":"tag-tariffs","19":"tag-trump"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115596397850278807","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/195243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=195243"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/195243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/195244"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=195243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=195243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=195243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}