Mike Crapo: “Coffee prices hit a record high earlier this year, and now…”

“For example, last month, home prices hit a record high, and these tariffs could add more than $10,000 to the cost of a home. Coffee prices hit a record high earlier this year, and now President Trump wants to put a 50% tariff on Brazil, our largest source of coffee. As families do their back to school shopping, they're going to see higher prices. For clothing and shoes, those prices could go up by 35% by the end of the year.” (07:39–07:50)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.