Coffee Drops to Two-Month Low as Trump Cuts Brazil Food Tariffs

Coffee futures dropped to an almost two-month low in New York after US President Donald Trump expanded tariff breaks for Brazilian food products, easing concerns about tight supplies.

Trump signed an executive order on Thursday to exempt dozens of popular food items, including coffee, from a 40% levy he imposed on goods from Brazil earlier this year. Last week, he knocked a separate 10% duty off those items, but didn’t originally include the higher rate, which was intended to punish the country over its prosecution of former President Jair Bolsonaro.

Futures for the arabica variety that’s favored for specialty ...