President Trump on Sunday said he was imposing large tariffs and significant sanctions on Colombia after its government refused to accept two military cargo flights carrying deported Colombians. Why it matters: The Latin American country has long been a crucial U.

Prices on everyday items like coffee could rise after President Trump announced a tariff on Colombian imports in response to tensions over immigration.

Trump, who has been in office for less than a week, pledged to slap 25% tariffs on Colombian exports, the source of one-fifth of coffee in the United States, and to raise them to 50% within a week