Colgate looking to reduce the impact of possible tariffs on toothpaste made in Mexico
NEW YORK, Jan 31 (Reuters) - Colgate Palmolive (CL.N), opens new tab is looking at ways to reduce the impact of possible tariffs on its toothpastes, which the company manufactures in Mexico for the U.S. market, Chief Financial Officer Stan Sutula said on a call with Wall Street analysts on Friday.
Sutula's comments come one day before President Donald Trump pledged to impose 25% tariffs on imports from Mexico and Canada to halt illegal immigration and the flow of fentanyl into the United States.
"We do produce some of our products for the U.S. in Mexico, primarily toothpaste, and we're working on potential mitigation plans," Sutula said. Colgate has said its toothpaste, sold under brands such as Colgate Total and Colgate Optic White, holds roughly one-third of the U.S. market.
Sutula said the company's plans to decrease the effects of tariffs could impact its imports of raw materials like vitamins and amino acids and its finished products. Colgate is also planning for retaliatory tariffs, he said.
Sutula said that Colgate did not count the costs of tariffs in its financial guidance for the 2025 fiscal year.
Over the last several years, the company has increased its U.S. production capability and can rely on co-manufacturers, separate companies it can outsource work to, he added.
Some companies have raced to expedite imports to blunt the impact of the levies, while others have held off due to costs.
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