Colombia, a major player in the coffee market, could see its goods become pricier in the United States due to new tariffs announced by President Donald Trump. The tariffs, set at 25% on all Colombian imports, will double to 50% within a week. This move could significantly impact the cost of Colombian coffee, which makes up about 20% of U.S. coffee imports, second only to Brazil.
The U.S. Department of Agriculture closely monitors coffee imports from Colombia, highlighting the country's importance in the market. The price of coffee has already risen by 3.8% in 2024, surpassing the overall inflation rate. With tariffs on the horizon, consumers could face even higher prices as importing companies might pass on these additional costs.
Petroleum remains Colombia's largest export to the U.S., valued at approximately $6 billion in 2022. Despite this, refined petroleum is the biggest export from the U.S. to Colombia. The total bilateral trade between the two nations amounts to $53.5 billion annually as of 2022, with the U.S. maintaining a trade surplus of $3.9 billion.
Colombia is not among the largest trading partners of the United States, yet it holds a significant role in specific markets. Cut flowers, valued at $1.6 billion, were the third-largest Colombian import to the U.S., with coffee being the second-largest at $1.8 billion.
"We will not allow the Colombian Government to violate its legal obligations with regard to the acceptance and return of the Criminals they forced into the United States," – Trump
The tariffs are part of a broader strategy by President Trump to address various grievances with Colombia, including legal obligations concerning criminal repatriation. While these tariffs target multiple goods, their impact on everyday commodities like coffee could be felt by consumers and businesses alike.
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