in the case of tariffs on crude oil, it'll cause global fuel prices to rise.
US is a big oil producer but we're even bigger with refining capacity, and import a lot of crude just to refine it into fuel for export. Put duties on that crude, it'll raise the cost of the final product.
The problem with coffee is that it's not like there is plenty of supply elsewhere - the Chinese were subtly suggesting the Mozambiqueans to produce more, but that no other country has the same logistical favorability to US ports than Colombia.
Is it possible to see the percentages in terms of total US imports? I.e. what proportion of all the crude petroleum, coffee, etc that the US imports comes from Colombia
On the cut flower end, we import nearly 60% of the flowers you see in florist shops and grocery store displays. Colombia, with good air freight connection is a huge part of that. They grow lots of roses in the Andean highlands.
Considering Colombia is replying with 25% tariffs in return, could you please also do a chart of what the US exports in Colombia and in which states those products are produced?
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US is a big oil producer but we're even bigger with refining capacity, and import a lot of crude just to refine it into fuel for export. Put duties on that crude, it'll raise the cost of the final product.
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