Latin America’s biggest economy can weather the shock of a high tariff rate. But American coffee lovers and Brazilian ranchers are likely to feel the pain.
Workers stockpiled coffee bean bags in Vila Valerio, northern Espírito Santo, Brazil in July. Brazil is the world’s biggest exporter of coffee beans and a major supplier to the U.S. market.
Prices for coffee beans have risen, but in a country where coffee drinking is a ritual, customers demand cheap espresso. That has left coffee bars in a bind.
A cup of espresso at the Lavazza Museum in Turin, Italy. Executives from Lavazza and Illy have warned for more than a year that higher coffee prices are most likely here to stay.
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