Swiss chocolate makers slide as U.S. tariff announcement bite

Chocoladefabriken Lindt & Spruengli AG

04/08/2025 08:41

** Shares in Swiss chocolate makers Lindt LISN.S and Barry Callebaut BARN.S slide after U.S. President Donald Trump set a 39% tariff on the country

** An analyst at Kepler Cheuvreux says the share moves are "all about tariffs" as despite there being little to no exports from Switzerland to the U.S. from either company, there are shipments from Canada and Mexico

** Baader Helvea says the import tax on cocoa into the U.S. from countries like Brazil, Ivory Coast and Ghana is much more important than the 39% tax on Swiss imports as the chocolate to meet U.S. demand is produced in the U.S. and Mexico

** Baader Helvea also sees limited impact to Lindt, as the very few imports from Switzerland could easily be replaced by production in the U.S. if needed

** Shares in Barry Callebaut fall around 4% to bottom of Europe-wide STOXX 600 .STOXX index at 0736 GMT, Lindt is down around 2%

 (Reporting by Bernadette Hogg)

 ((bernadette.hogg@thomsonreuters.com))