US-China tariff cuts on farm goods
The US and China extended their trade truce into January and named the goods on which each will cut tariffs. China's list is mostly US farm products such as beef, chicken, wheat and corn, which favours grain traders ADM and Bunge and meat producer Tyson over other consumer staples companies.
What changed
We raised our expected return for Archer-Daniels-Midland, Bunge Global SA and Tyson Foods against the rest of the consumer staples sector.
| Symbol | Without it | With it | Change |
|---|---|---|---|
| Archer-Daniels-MidlandADM | 5.95% | 6.39% | +0.45pp |
| Bunge Global SABG | 5.92% | 6.31% | +0.39pp |
| Tyson FoodsTSN | 5.36% | 5.53% | +0.18pp |
Each stock as it stands now, and without this story. Figures are annual expected returns (arithmetic means). They are not a forecast or a promise.