Top 5 U.S. Export Items Vulnerable to Tariff Impacts

According to AFP, economists are cautioning that escalating tariffs will inevitably raise import costs for businesses, ultimately burdening American consumers. This potential reduction in consumer spending, a vital component of the U.S. economy's growth, could significantly impede its overall expansion.

The proposed tariffs target a range of essential and widely consumed goods, including coffee, apparel, fragrant rice, cocoa, and electronics. Over 99% of coffee consumed in the U.S. is imported, predominantly from Brazil, Colombia, and Vietnam, with Brazil, supplying over 30%, facing a substantial 50% tariff. Similarly, clothing items like shirts and sweaters are anticipated to see price increases due to these new taxes.

Furthermore, the U.S. stands as the largest rice importer in the Western Hemisphere, bringing in approximately 1.3 million tons annually, as per the U.S. Department of Agriculture (USDA). More than 60% of this comprises fragrant rice varieties, primarily jasmine rice from Thailand and basmati rice from India and Pakistan, which will be subject to tariffs of 19%, 25%, and 19% respectively. The USDA also indicates that the U.S. imports over $1.1 billion worth of cocoa beans each year, largely from countries like Ivory Coast and Ecuador, with Ivory Coast facing a 15% tariff. Cocoa butter from Indonesia and Malaysia will also incur a 19% tax.

Additionally, President Donald Trump has threatened a 50% tariff on imported copper, a metal critical for construction and electronics. Consulting firm BCG estimates this measure could inflate raw material costs by $8.6 billion, consequently driving up prices for electronics and construction products. Observers unanimously warn that these new tariffs will exert immediate and direct financial pressure on American households, particularly amidst the current global economic uncertainties.

It is noteworthy that 88% of global trade occurs independently of the United States, rendering it unaffected by U.S. tariffs. These nations have consistently reaffirmed their commitment to the free international trade order that has been upheld for decades. Alan Wolff, a senior researcher at the Peterson Institute for International Economics, underscored this sentiment, asserting, "No other trading country in the world has followed the United States and widely threatened to raise its own tariffs. Nor has any country abandoned its support for the world trading system managed by the WTO."