Smithfield CEO isn’t worrying about potential China tariffs on U.S. pork
Smithfield Foods CEO Kenneth Sullivan said that a potential Chinese tariff on American pork exports would have a limited impact on the company and its parent company, WH Group. The Chinese processor’s stock has fallen 12 percent since the country threatened retaliatory tariffs on American products, including pork, in response to the new U.S. tariffs on Chinese steel and aluminum.
Sullivan said that China buys no more than 7 percent of the company’s fresh pork output, Reuters reports.
“We’ll find markets, we ship to more than 40 countries,” said Sullivan. “We may very well ship to China even with an increased tariff,” he said.