Kick 'em while they're down: Tariffs hit struggling US food, beverage companies Pepsi, J.M. Smucker,

[jpak]

Kick 'em while they're down: Tariffs hit struggling US food, beverage companies Pepsi, J.M. Smucker, Campbell Soup

https://www.cnbc.com/2018/07/02/tariffs-kick-food-beverage-companies-that-are-already-down.html

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Canada's levy on soups is expected to hit Campbell Soup particularly hard.

"With a 10 percent tariff on soups and broths and tomato products — representing the core of Campbell's products that are sold in Canada and made from both U.S. and Canadian ingredients — Campbell estimates the economic impact to our Canadian business to be significant," company spokesperson Alexandra Sockett said in an email to CNBC. "We are evaluating ways to offset the potential tariff impact and working closely with our customers."

The new taxes on food products follow on the Trump administration's tariffs on imported steel and aluminum, 25 percent and 10 percent, respectively, which are also expected to squeeze the company's profits. The tin plate steel used to make Campbell Soup cans accounts for the New Jersey-based company's largest outlay for materials.

Campbell’s CFO, Anthony DiSilvestro, in May called out the expected squeeze from tariffs as having a likely impact on the company’s earnings for its fiscal year beginning July 30.

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[Wellstone ruled]

1. Whoa,step back a bit,

all these Companies gave bigglee to Trump's Campaign or the Inaugural Fund. Each and everyone of these Company CEO's have praised Trump for taking a so called tough stand against foreign goods. Well,they knew first hand Trump and Ross were going to go the Tariff route.

This is their President,not ours,and yes they and their Business round table need to change this or shut the F up. Watched to many interviews on CNBC and Bloomberg with these People,unless you were living on Mars,you could see this coming.