What will a Trump presidency mean for trade, exports and commodities in the US confectionery industry and for the global market?
Vote anonymously below. Results will be published on ConfectioneryNews next week.
Trump has become the 45th US president following election victory over Democrat Hilary Clinton.
‘Not eating Oreos anymore’
He has pledged to bring jobs back to America and previously slammed Mondelēz International decision to cut jobs in Chicago as it shifted Oreo production to Mexico.
“I’m not eating Oreos anymore,” he said in May. “When they move, there’s got to be consequences.”
The confectionery industry directly employs 55,000 people in the United States, according to the National Confectioners Asscoiation (NCA).
The trade body said in a statement to US House of Representatives Committee last year: “NCA members have long supported free trade. This is despite the fact that our companies are disadvantaged in our own domestic marketplace by US agriculture subsidies that increase the price of sugar in the US, one of our key ingredients, compared to the world price that our global competitors enjoy.”
NAFTA and TPP
Trump has called North American Free Trade Agreement (NAFTA), which lowers trade restrictions between the US and Canada and Mexico, “the worst trade deal ever”, and has called the Trans Pacific Partnership (TPP) “rape of our country”.
The US exports $2bn worth of chocolate, candy, gum, mints and bulk chocolate products around the world with 40% going to Canada ($900 million) and 15% ($300 million) to Mexico.