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Colombia's President Responds to Trump's 50% Tariffs with Counter Tariffs; 'I Will Resist You' (www.latintimes.com)

submitted 1 year ago by Lemmynated@lemmy.zip to c/world@quokk.au

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"Your blockade does not scare me... I am informed that you're imposing a 50% import tariff on us; I do the same," the Colombian President wrote on social media.

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[–] NoneOfUrBusiness@fedia.io 8 points 1 year ago (2 children)

Colombia won because they didn't have to actually give away anything, but coffee prices did rise even further. If they can get 25% more for their coffee, then that's a cool extra billion on a $4B export.

I doubt it'll be Colombia getting these profits. It seems more likely that American importers will pocket the difference.

[–] alvvayson@lemmy.dbzer0.com 2 points 1 year ago (1 children)

Only if those American importers had the foresight to buy coffee, or coffee options, earlier.

What happened now was that American importers and speculators immediately scrambled to buy coffee to avoid tariffs and this drove up global prices.

[–] NoneOfUrBusiness@fedia.io 1 points 1 year ago

Oh I see. That makes sense.

[–] Maeve@kbin.earth 1 points 1 year ago

Guess after my Colombian stash runs out, I'll find something different.