The price tag for Apple’s iPhones may increase by more than 40% after President Donald Trump announced sweeping reciprocal tariffs on U.S. trade partners, analysts said Thursday, as Trump’s trade policies will likely increase prices across several imported goods, including new cars, coffee, chocolate and other products.

World cocoa and coffee prices fell on Thursday as investors fretted that President Donald Trump's move to slap punishing tariffs on U.S. imports would damage chocolate and coffee demand in the world's top consumer of the products.

Colombia’s half a million coffee-growing families are braced for a hit in their biggest market from Donald Trump’s tariffs, souring a year that began hopefully as global prices soared to a record.