Nestlé CEO Says Company is “Largely Immune” from Tariffs
Nestlé, the world’s largest food producer, is in a unique position that makes it “largely immune” from the impact of tariffs, according to the company’s chief executive, Laurent Freixe. He stated that Nestlé benefits from its more localized manufacturing footprint, with about 90% of the products sold in the U.S. being manufactured domestically.
While global trade and tariffs are being closely monitored by Nestlé, Freixe emphasized the resilience of the company to significant movements. This comes as other food and beverage makers are feeling the pressure from tariffs imposed by the Trump administration. Coca-Cola CEO James Quincey recently mentioned the possibility of switching to more plastic bottles from aluminum cans if input costs become too expensive.
Nestlé’s CFO, Anna Manz, mentioned that the company has various mechanisms in place to mitigate any potential impact from tariffs, including pricing adjustments and changes in sourcing. The company’s guidance for 2025 does not currently factor in any impact from tariffs, but Manz warned that new duties could lead to a quick rise in the inflationary environment.
Despite challenges in attracting consumers back to certain products, such as frozen items like pizza, Nestlé is planning further price increases for commodities like cocoa and coffee. The company reported a 2.2% increase in organic sales for 2024, with North America being cited as “disappointing” due to weaknesses in coffee creamers and frozen foods.
Looking ahead, Nestlé is forecasting an improvement in organic sales growth as recent initiatives start to take hold. The company’s focus on growth platforms and innovation is expected to drive sales growth in the coming years. Additionally, Nestlé announced plans to cut costs by $2.8 billion by 2027, with the savings being reinvested into other parts of the business.
While Nestlé had previously considered separating its waters and premium beverages unit into a standalone business, Freixe stated that the company is no longer looking to sell the division. However, Nestlé remains open to divesting part of the business or entering into a partnership to address any ongoing challenges within that segment.
Overall, Nestlé’s strategic approach to mitigating the impact of tariffs and focusing on growth and innovation positions the company well for future success in the face of changing global trade dynamics. The Impact of Technology on Mental Health
In today’s digital age, technology has become an integral part of our daily lives. From smartphones and social media to virtual reality and artificial intelligence, technology has revolutionized the way we communicate, work, and interact with the world around us. While technology has brought about many positive changes, it has also raised concerns about its impact on mental health.
One of the main concerns surrounding technology and mental health is the rise of screen time. With the proliferation of smartphones, tablets, and computers, many people spend a significant amount of time staring at screens each day. This can lead to a variety of mental health issues, including increased stress, anxiety, and depression. Studies have shown that excessive screen time can disrupt sleep patterns, cause eye strain, and even lead to addiction-like behaviors.
Social media is another aspect of technology that has been linked to mental health issues. While social media platforms provide a way to connect with others and share information, they can also contribute to feelings of loneliness, jealousy, and low self-esteem. The constant comparison to others’ curated online personas can lead to negative self-perception and a sense of inadequacy. Additionally, cyberbullying and online harassment are prevalent on social media, further exacerbating mental health issues.
Technology has also changed the way we work, with many people now working remotely or in flexible environments. While this can offer increased flexibility and convenience, it can also blur the boundaries between work and personal life. The pressure to be constantly connected and available can lead to burnout, stress, and anxiety. Additionally, the lack of face-to-face interaction in virtual work environments can lead to feelings of isolation and loneliness.
Despite these concerns, technology also has the potential to improve mental health outcomes. Telemedicine and mental health apps have made therapy more accessible to those who may not have access to traditional in-person services. Virtual reality has been used to treat a variety of mental health conditions, including phobias and PTSD. Artificial intelligence is being used to analyze data and identify patterns that can help predict and prevent mental health crises.
Ultimately, the impact of technology on mental health is complex and multifaceted. While there are concerns about the negative effects of excessive screen time and social media use, there are also opportunities for technology to improve mental health outcomes. It is important for individuals to be mindful of their technology use and to establish healthy boundaries to protect their mental well-being. Additionally, further research is needed to better understand the relationship between technology and mental health and to develop strategies to mitigate any negative impact.
