Tariff Strategy Forces a Pivot for Smithfield Foods

Due to the trade war, the world’s #1 pork buyer is no longer a destination for U.S. pork. With tariffs of 145 percent, Smithfield Foods CEO Shane Smith said China is not a viable market. Smith said that has forced the company to pivot its business. In the first quarter, Smithfield had total sales of $3.7 billion, up 9.5 percent from a year ago.