Be prepared for possible price hikes in August on everyday goods like coffee, beef, alcohol, and produce due to tariffs.

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.

President Donald Trump is threatening to impose 50% tariffs on Brazilian imports — a move that could spike prices of breakfast staples like coffee and orange juice.