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McCormick spice company has a $140 million tariff problem [View all]
https://www.thebanner.com/economy/mccormick-spice-trump-tariffs-AWP7P5ATLBBMBBSEKXMUQ4HENY/Archived: https://archive.ph/R2hEQ
For a spice giant like McCormick & Company, which relies on many products that can only be grown abroad, tariffs have been top of mind all year. Executives meet weekly to discuss the topic.
The Hunt Valley-based company said this summer that it expected tariffs to cost them roughly $90 million annually, but after President Donald Trump’s administration enforced more tariffs in August, that number has jumped.
McCormick now projects about $140 million in “tariff exposure,” chief financial officer Marcos Gabriel said during an earnings call Tuesday morning.
“We meet on this weekly,” said Brendan Foley, president, CEO and chairman of the company. “We see changes every week as we continue to go through this and identify new opportunities and breakthroughs in terms of how we can think about next year.”
The Hunt Valley-based company said this summer that it expected tariffs to cost them roughly $90 million annually, but after President Donald Trump’s administration enforced more tariffs in August, that number has jumped.
McCormick now projects about $140 million in “tariff exposure,” chief financial officer Marcos Gabriel said during an earnings call Tuesday morning.
“We meet on this weekly,” said Brendan Foley, president, CEO and chairman of the company. “We see changes every week as we continue to go through this and identify new opportunities and breakthroughs in terms of how we can think about next year.”
McCormick spice company has a 0 million tariff problem www.thebanner.com/economy/mcco...
— Catherine Rampell (@crampell.bsky.social) 2025-10-09T00:04:50.580Z
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