Carol Jiang

Carol Jiang, on behalf of Laurence Alexander, followed up on the $80 million tariff estimation for 2026, asking if it accounts for potential secondary effects like increased dumping of generic products in non-tariff markets such as Brazil.

Answer

David Johnson (EVP and CFO, Corteva) confirmed the $80 million estimate encompasses everything for the entire business, including all countries like Brazil. Robert King (EVP, Crop Protection Business Unit, Corteva) and Chuck Magro (CEO, Corteva) clarified that almost all of it is related to CP and primarily due to China actives coming into the United States.

Carol Jiang, on behalf of Lawrence Alexander, asked for clarification on the $80 million tariff estimation for 2026, specifically if it accounts for potential secondary effects like increased dumping of generic products in non-tariff markets such as Brazil.

Answer

EVP and CFO David Johnson confirmed the $80 million estimate for crop protection tariffs encompasses everything for the entire business, including all countries like Brazil. CEO Chuck Magro clarified that almost all of it is related to CP and primarily due to China actives entering the United States.