McCormick CEO Discusses Tariff Mitigation Strategy Through 2025

Tariff Impact and Mitigation

• 🎯 McCormick has implemented a strategy to mitigate the impact of tariffs through 2025.
• 💡 The company's teams have done significant work to manage the effects of tariffs on their business.

Sourcing and Production

• 🌍 Over 90% of McCormick's products sold in the United States are manufactured domestically.
• 🌱 However, a large majority of the ingredients used must be sourced from outside the U.S. due to agricultural limitations.

Agricultural Sourcing Flexibility

• 🌶️ For products like black pepper, McCormick can source from multiple countries, such as Brazil, Indonesia, or Vietnam, allowing for flexibility.
• 🗺️ This ability to source from various global markets is crucial for managing supply chains and potential tariff impacts.