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Investing.com -- Major US food corporations, including PepsiCo (NASDAQ:PEP), Conagra (NYSE:CAG), and J M Smucker (NYSE:SJM), are advocating for exemptions from tariffs on certain imports. These companies, along with others like Quaker Oats and Folgers coffee, have approached President Donald J. Trump with a request for targeted tariff exemptions on imports such as cocoa and fruit, according to a letter viewed by Reuters.
The letter, dispatched by the Consumer Brands Association, a trade group representing these companies, was sent on Monday. It requests exemptions for ingredients that are not obtainable from US sources, in order to safeguard manufacturers who usually purchase from domestic farmers and suppliers.
The letter lists coffee, oats, cocoa, spices, tropical fruit, and tin mill steel, which is used for specialty food and household goods, as imports that are not available domestically. The aim of this proposed tariff exemption, as stated in the letter, is to protect US manufacturers and support efforts to reduce consumer inflation.
The Consumer Brands Association is actively advocating for strategic tariff enforcement. This comes as companies face challenges from tariffs on Mexican imports. The push for tariff exemptions is part of an effort to aid companies in navigating the complexities of international trade and tariffs, particularly for non-domestic ingredients.
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