Syngenta group expects minimal impact from US tariffs in 2025, executive says
CAMPINAS, Brazil, June 10 (Reuters) - Agrochemicals company Syngenta Group expects a minimal impact from tariffs imposed by U.S. President Donald Trump on its business in 2025, Steven Hawkins, global president of Syngenta's crop protection business, said on Tuesday.
While the company is growing and investing in its portfolio of biological products, these are not a substitute for synthetic crop protections, Hawkins told journalists on the sidelines of Syngenta's One Agro event in Campinas, a city in the Brazilian state of Sao Paulo.
The Swiss-based company, which is controlled by China's Sinochem (600500.SS), opens new tab, was prepared for the tariffs after adopting measures to counter previous restrictions placed by Trump in his earlier administration, Hawkins said.
"We organized ourselves to mitigate or offset those (earlier) tariff issues so that gave us already a platform to be prepared for the tariffs that we see now. We see a minimal impact for sure in 2025 and let's see what happens in 2026," Hawkins said.
Though tariffs are cause for concern, Brazil is well placed to benefit as countries around the world reassess their relationships with other nations, added Andre Savino, president of Syngenta's crop protection business in Brazil.
"Many people will see Brazil as an opportunity, either to invest or to diversify the commercial matrix a little," Savino said.
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