Tariff Talk

The coffee tasted a little better this morning…IYKYK. The Senate recently voted to terminate the national emergency declared on Brazil and India, the same emergency that imposed a 40% IEEPA import tariff on Brazil and a 25% tariff on India. Will the House take up the measure? That remains to be seen. Will it be necessary?

With tariffs now serving as both a negotiation tool and a political talking point, ears perked up during the morning news when President Trump said prices would be coming down on coffee after being questioned about rising beef and coffee costs. Was that a sign that a suspension of the tariff may be on the horizon? With Brazilian elections now settled, are the reasons for the order no longer relevant and the tactic no longer needed?

There is a lot to look back on regarding imposed tariffs in 2025, and many that never came to fruition…dairy from Canada, Italian wines, and Venezuelan oil to name a few. So while we might get excited at the potential return of splurges on a coffee concoction, it is not real until we see notices in the Federal Register and from U.S. Customs.

With reciprocal tariffs seemingly settled with key trading partners, we should expect tariff talk to center around specific concerns. Will new issues arise from Russia or tensions with Venezuela? As comment periods close on 232 investigations, will more derivative articles or categories be expanded?

As we prepare for the holidays and year end, tariff changes might be quieter, but they will still be on the agenda for 2026…along with enforcement of new tariffs.