{"id":234504,"date":"2025-11-17T10:45:00","date_gmt":"2025-11-17T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=234504"},"modified":"2025-11-17T11:44:06","modified_gmt":"2025-11-17T16:44:06","slug":"trump-trade-trump-ends-reciprocal-tariffs-on-food-items-including-meat","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/trump-trade-trump-ends-reciprocal-tariffs-on-food-items-including-meat\/","title":{"rendered":"Trump Trade: Trump ends reciprocal tariffs on food items including meat"},"content":{"rendered":"\n<p>Piper sees three companies benefiting from updated Trump tariffs<\/p>\n\n\n\n<p>Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tariff-cuts-nbsp\"><strong>TARIFF CUTS:&nbsp;<\/strong><\/h2>\n\n\n\n<p>President Trump Friday night rolled back reciprocal tariffs on a host of food items, including drinks, spices, fruits and meat. The White House said in a&nbsp;<a href=\"https:\/\/thefly.com\/n.php?id=4240589\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a>, &#8220;Specifically, I have determined that certain agricultural products shall not be subject to the reciprocal tariff imposed under Executive 14257, as amended. Accordingly, updated versions of Annex II to Executive Order 14257, as amended, and the Annex to Executive Order 14346 entitled, &#8220;Potential Tariff Adjustments for Aligned Partners,&#8221; are attached to this order and shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern standard time on November 13, 2025. In my judgment, these modifications are necessary and appropriate to deal with the national emergency declared in Executive Order 14257.&#8221; Publicly traded companies in the space meat producer group include Hormel Foods&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=HRL\">(HRL)<\/a>, JBS&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=JBS\">(JBS)<\/a>, Pilgrim&#8217;s Pride&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=PPC\">(PPC)<\/a>&nbsp;and Tyson Foods&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=TSN\">(TSN)<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-companies-set-to-benefit-nbsp\"><strong>COMPANIES SET TO BENEFIT:<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Piper Sandler says President Trump&#8217;s exemption of coffee and cocoa from higher tariff rates, effective November 13, is positive for Vita Coco&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=COCO\">(COCO)<\/a>, Hershey&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=HSY\">(HSY)<\/a>&nbsp;and Keurig Dr Pepper&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=KDP\">(KDP)<\/a>. Late Friday&#8217;s announcement is on top of previously announced lower tariffs on most imports from Argentina, Guatemala, and El Salvador, and 15% tariffs on Ecuador, the firm tells investors in a research note. Piper points out that Hershey&#8217;s cocoa, Keurig&#8217;s coffee, and Vita&#8217;s coconut water are now exempt. For Hershey, cocoa import tariff costs are estimated at $50M per quarter, and for Vita, its 2026 tariffs could have been $55M, which now would appear to reset to zero, the firm contends.<\/p>\n\n\n\n<p>BofA upgraded Vita Coco following the Friday post-market announcement from White House excluding certain agricultural products, including coconut water, from reciprocal tariffs. The firm&#8217;s revised estimates reflect tariff exemption relief effective November 13 and it removes the incremental tariff headwind it previously forecast, raising its FY26 adjusted EBITDA estimate by $37.5M to $128.1M, BofA tells investors.<\/p>\n\n\n\n<p>JPMorgan views Hershey&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=HSY\">(HSY)<\/a>, J.M. Smucker&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=SJM\">(SJM)<\/a>&nbsp;and McCormick&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=MKC\">(MKC)<\/a>&nbsp;as the biggest beneficiaries in the food producer group from the White House&#8217;s executive order that exempts a range of agricultural products that cannot be sourced from the U.S. from import tariffs, most notably cocoa, coffee, and many spices and seasonings. This order could help to alleviate the &#8220;sizable earnings overhangs&#8221; on the three companies from tariffs, the firm tells investors in a research note. JPMorgan sees Hormel Foods&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=HRL\">(HRL)<\/a>, Lamb Weston&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=LW\">(LW)<\/a>, Kraft Heinz&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=KHC\">(KHC)<\/a>, and Conagra Brands&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=CAG\">(CAG)<\/a>&nbsp;as more modest beneficiaries from the tariff relief.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-moving-headquarters-nbsp\"><strong>MOVING HEADQUARTERS:&nbsp;<\/strong><\/h2>\n\n\n\n<p>UBS&nbsp;<a href=\"https:\/\/www.thefly.com\/news.php?symbol=UBS\">(UBS)<\/a>&nbsp;chair Colm Kelleher and US Treasury secretary Scott Bessent have discussed moving UBS&#8217;s headquarters to the U.S., Ortenca Aliaj, Simon Foy, Mercedes Ruehl, and Claire Jones of The Financial Times&nbsp;<a href=\"https:\/\/thefly.com\/n.php?id=4241109\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>. The talks have been about what the move would look like for the lender, with the Trump administration receptive to the possibility, three people familiar with the conversation told the Times.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted November 17, 2025 &#8211; <strong><a href=\"https:\/\/thefly.com\/landingPageNews.php?id=4241227&amp;headline=$ECON;SPY;SPX;HRL;JBS;PPC;TSN;KDP;COCO;HSY;SJM;MKC;LW;KHC;CAG;UBS-Trump-Trade-Trump-ends-reciprocal-tariffs-on-food-items-including-meat&amp;utm_source=https:\/\/thefly.com\/news.php%3fonthefly=on&amp;h=6&amp;utm_medium=referral&amp;utm_campaign=referral_traffic\">Trump Trade: Trump ends reciprocal tariffs on food items including meat<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Piper sees three companies benefiting from updated Trump tariffs.<\/p>\n","protected":false},"author":48,"featured_media":234519,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[],"contributors-categories":[13629],"class_list":{"0":"post-234504","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-the-fly"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Trump Trade: Trump ends reciprocal tariffs on food items including meat<\/title>\n<meta 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