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US Tea drinkers may take their lumps with hefty tariffs
Tea has seen a significant surge in popularity in the United States. Tea is offered in a diverse range of preparation styles: sweet tea brewed with sugar, bubble tea, or simply
enjoyed plain and over 159 million US citizens drink tea on any given day.
Rising tea prices combined with the US administration’s unpredictable tariffs are expected toimpact consumers.
The US imported $550 million worth of tea in 2024,up from $514 million in 2023. China, the world's largest exporter, shipped approximately $55.5 million worthof tea to the US last year, ranking fourth among US suppliers behind Japan, India and Argentina.
The Tea Association of theUSA has urged the US administration to waive tariffs on tea.
Source: China Daily (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
About F&W
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...