By WSJ Staff
Arabica coffee prices hit an all-time high after President Trump threatened to impose 25% tariffs and economic sanctions on Colombia, a major exporter, before backing down.
-- Futures for the high-end beans used in cafes hit an intraday record of $3.5555 a pound early Monday
-- In recent trading, prices stood at around $3.4720, down from Friday's record settlement of $3.4755.
-- Coffee prices have surged since October as poor weather in major producers last year hampered production.
Late Sunday, the White House said Colombia had met Trump's demands to repatriate migrants, but the president said the tariffs plans would be "held in reserve."
The Colombia peso weakened against the U.S. dollar after Trump issued his threats, as did other emerging-market currencies such as the Mexican peso and the South African rand.
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(END) Dow Jones Newswires
January 27, 2025 10:34 ET (15:34 GMT)
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