US tariffs on imported goods have dealt a significant blow to food giant JM Smucker Co., with the company reporting its largest decline in nearly four decades. The company, which owns popular coffee brands Folgers and Cafe Bustelo, warned that higher costs due to tariffs will reduce its profit forecast by around $1 per share. This is part of a challenging trend for US packaged food producers, who face increasing costs and global competition.
Source: https://www.bloomberg.com/news/articles/2025-06-10/smucker-s-guidance-miss-shows-struggles-of-packaged-food-firms