Coffee prices are on the rise after President Donald Trump announced a sweeping 50% tariff on imports from Brazil, the world’s largest coffee producer, sending a shock through global commodities markets and setting off fresh volatility in futures trading.

The chairman of Lavazza has warned that Donald’s Trump’s tariffs could push coffee prices higher - as the US President threatens the world’s biggest producer with a 50% export tax. Giuseppe Lavazza said the coffee industry had faced “exceptional volatility”,

President Donald Trump’s plan to hit Brazil with a 50% import tax on Aug. 1 threatens to increase prices for coffee and orange juice, two of the South American country’s key products.

The Trump administration threat of a 50% tariff on all Brazil imports will hit a variety of American companies. That includes coffee chain Starbucks, which imports a lot of coffee beans from Brazil.