financetom
Business
financetom
/
Business
/
Exclusive-US food giants PepsiCo, Conagra seek to exempt some imports from tariffs, trade group says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Exclusive-US food giants PepsiCo, Conagra seek to exempt some imports from tariffs, trade group says
Mar 12, 2025 2:45 PM

NEW YORK (Reuters) - Major packaged food makers including Quaker Oats and Folgers coffee asked U.S. President Donald J. Trump for targeted exemptions from tariffs on imports like cocoa and fruit, according to a letter seen by Reuters.

PepsiCo ( PEP ), Conagra and J M Smucker ( SJM ), are requesting that Trump exempt ingredients not available from U.S. sources to protect manufacturers who otherwise buy from domestic farmers and suppliers, according to the letter, sent on Monday by a consumer products trade group representing the companies, the Consumer Brands Association.

Coffee, oats, cocoa, spices, tropical fruit and tin mill steel, used for specialty food and household goods, are among the imports listed as unavailable domestically in the letter.

"We believe targeted and carefully calibrated removal of these ingredients and inputs from tariffs is appropriate to best protect U.S. manufacturers and support (Trump's) efforts to lower consumer inflation," the letter said. 

PepsiCo ( PEP ) and Smucker, which have executives sitting on the executive committee of the Consumer Brands Association, did not immediately respond to requests for comment. 

A spokesman for Conagra, whose CEO Sean Connolly is also on the industry group's executive committee, said the company, the maker of Swiss Miss hot chocolate, continues to evaluate its sourcing in light of possible policy changes. 

Trump's new round of tariffs on goods from China, Canada and Mexico come at a delicate time for the U.S. packaged food and consumer product industry. Manufacturers fear having to pass new costs on to consumers, who are already buying less after double-digit inflation the last several years.

Trump campaigned to bring down the cost of living.

Tom Madrecki, vice president of campaigns and special projects for the Consumer Brands Association, said the letter is aimed at opening up a conversation with the Trump administration on exemptions. 

Trade enforcement, including tariffs, he said, has to be "done strategically and (it) has to ladder back up to protect manufacturers," Madrecki said. He noted that bamboo fiber from Australia, used in the absorbent pads for diapers, is another import unavailable domestically.

U.S. companies including Colgate Palmolive ( CL ) and Edgewell face exposure to tariffs.

Colgate, which makes toothpaste in Mexico, is looking at ways to reduce the impact of tariffs. But the company doesn't expect it will be able to fully mitigate them, its chief investor relations officer John Faucher said Wednesday at an industry conference.

"There still will be an impact both from the initial tariffs, as well as in terms of what happens with any sort of retaliatory tariffs as we look at impact with Mexico or Canada," Faucher said.

Banana Boat sunscreen maker Edgewell said it was looking to lock in prices from Chinese suppliers on sunscreen chemicals ahead of tariffs. Procter & Gamble ( PG ) also said it may have to raise prices to deal with the looming trade war.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Roku Stock Surges On New Integration With Amazon: Details Of The Deal
Roku Stock Surges On New Integration With Amazon: Details Of The Deal
Jun 16, 2025
Roku Inc ( ROKU ) shares are rising Monday after the company announced a new strategic integration with Amazon Ads. What To Know: Roku ( ROKU ) entered into a new exclusive partnership with Amazon.com Inc ( AMZN ) Ads, providing access for advertisers to the largest authenticated Connected TV (CTV) footprint in the U.S. exclusively through Amazon’s demand-side platform...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
AbbVie Says Myelodysplastic Syndrome Phase 3 Trial Failed to Meet Primary Endpoint
AbbVie Says Myelodysplastic Syndrome Phase 3 Trial Failed to Meet Primary Endpoint
Jun 16, 2025
09:37 AM EDT, 06/16/2025 (MT Newswires) -- AbbVie ( ABBV ) said Monday that a global phase 3 trial assessing venetoclax plus azacitidine in treating newly diagnosed higher-risk myelodysplastic syndrome did not meet the primary endpoint for overall survival. The company said there were no observed new safety signals. The company also said that any current approved indications for venetoclax...
Cantaloupe to Be Acquired by 365 Retail Markets
Cantaloupe to Be Acquired by 365 Retail Markets
Jun 16, 2025
09:39 AM EDT, 06/16/2025 (MT Newswires) -- Cantaloupe (CTLP) said Monday it has agreed to be acquired by 365 Retail Markets in an all-cash deal with an equity value of about $848 million. Under the terms of the deal, Cantaloupe said its shareholders will get $11.20 per share in cash from 365, a portfolio company owned by private equity firm...
Copyright 2023-2026 - www.financetom.com All Rights Reserved