Global coffee prices plunge after Trump removes tariffs on Brazil

LONDON: Global coffee prices plunged on Friday after US President Donald Trump removed 40 percent tariffs on imports of Brazilian agricultural products. US retail coffee prices rose an annual 40 percent in September, due in part to tariffs. Rising food prices are a major factor behind Trump’s approval ratings falling to their lowest since his return to power, a Reuters/Ipsos poll found. Trump’s overnight move follows a similar order announced last Friday to roll back duties on coffee and scores of other products from producing countries.

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