Nov. 17 at 8:55 PM
Food stocks rose after the Trump administration exempted hundreds of imported agricultural products—including beef, coffee, cocoa, and coconuts—from recently imposed global tariffs. The rollback relieves companies that have faced sharply higher input costs since April, when many goods were hit with tariffs of at least 10%.
Industry groups welcomed the move, saying it will stabilize supply chains and ease cost pressures. Vita Coco jumped 7% after saying the exemption will cut its average tariff rate from 23% to about 6%. Bank of America upgraded the stock to Buy, noting that previously expected 2026 tariff costs of
$37.5 million are now off the table.
Brinker International rose 7.9%, as lower beef and seafood costs could ease the margin pressure the company has highlighted throughout 2025. Analysts also noted improving customer traffic at Chili’s.
Hershey gained 1.9%.
$EAT $HSY $COCO