Hershey Optimistic Cocoa Tariffs Will Be Lowered in Trade Talks

Hershey Co. lowered its full-year profit guidance in part on tariff costs, but is hopeful that the Trump administration will offer relief for products, like cocoa, that can’t be grown in the US.

On a call with analysts Wednesday, Chief Executive Officer Michele Buck pointed to comments by Commerce Secretary Howard Lutnick on CNBC that President Donald Trump might be willing to exempt natural resources that can’t be produced domestically.

“We have become increasingly comfortable that the government administration understands some of our concerns about the fact that cocoa can only be grown and sourced outside of the US,” she ...