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Diving Briefs:
- The trade group, which represents large food and beverage manufacturers, has asked the White House management to exempt the “target” tariff exemption for major ingredients and other inputs imported by some members.
- The CONSUMER BRANDS ASSOCIATION, including PEPSICO, Conagra Brands and Mondelēz International, wrote that the White House on March 10 should ensure that the White House does not affect the US manufacturers and consumers that the tariff does not affect as much as possible without excessive results. Reuters first reported the existence of the letter.
- The food company said from the US farmers and suppliers, “We are making every effort to supply ingredients and inputs, but the trade group said that some products such as cocoa, coffee, spices and tropical fruits cannot be used in the United States. Other inputs, such as Tin Mill Steel, face limited domestic supply.
Dive Insights:
As the tariff war is developed, the trade group representing major food and beverage manufacturers hope that the White House administration will ease its financial impact on its members.
Melissa Hockstad, president and CEO of Consumer Brands Association, said, “As a US manufacturer, we have strong trade execution and protection mechanisms. “We hope that our hope can be adjusted to reflect the restrictions on supply chain that provides information by product and imported data to protect domestic manufacturers.”
Hockstad added that “carefully correcting with the goal of input from these ingredients and tariffs will support President Donald Trump’s efforts to protect US manufacturers and lower consumer inflation.
Many executives have warned that tariffs are already affecting their operations. In the end, it can lead to price hikes.
CAMPBELL company CEO MIO MIO MIC BEEKHUIZE The tariff said that it could increase the cost of packaging. And it has a negative impact on the soup brand with a name.
DIRK Van de Put, CEO or Oreo maker mondelēz, I told food diving The tariff can be more expensive to manufacture cookies and crackers. Over the years, inflation has already allowed manufacturers to deliver higher costs to consumers, and shoppers have reduced their purchases in groceries. Trade groups and its members are concerned that tariffs will increase the price of some products, which will reduce how much time shopping spends.
thursday, Trump said in Europe that it would have 200%tariffs on wine, champagne and other alcohol products. If the EU does not withdraw measures for US obligations. The administration has already imposed 25%of tariffs on the EU’s steel and aluminum products and some products in Canada and Mexico.
