Trump Signals Cuts to U.S. Coffee Import Tariffs as Treasury Teases Imminent Moves

Overview

• In a Fox News interview, President Donald Trump said he will reduce “some tariffs” on coffee imports but gave no details on countries, rates or timing.
• Treasury Secretary Scott Bessent said consumers will see “significant” announcements in the coming days to lower prices for goods not grown in the U.S., naming coffee and bananas.
• Brazil, a leading supplier to the U.S., has not been officially notified, and industry groups say any suspension likely requires a bilateral agreement and clear signals from Brasília.
• The roughly 50% surtax imposed since August has sharply curbed flows, with U.S. purchases of Brazilian coffee down about 53% year over year in September and three-month volumes roughly halved.
• Coffee futures fell about 5% on Wednesday after the policy signals, while Brazilian exporters push for a cut to near 10% or full exemption to recover market share and prevent permanent shifts in blends.