原标题: Trump Exempts Cocoa From Reciprocal Tariffs, a Win for Hershey
第一项始终是图钉的来源。总体可信度是各份资料对上方所用开始和结束时间支持程度的加权平均；资料每比最新的一份旧 180 天，权重减半。
已明确确认：白宫于 2025 年 11 月 14 日发布了题为“修改部分农产品对等关税适用范围”的行政令；Hershey 欢迎“特朗普政府豁免可可的决定”的声明时间戳为“Fri, 14 Nov 2025 16:59:00 -0500”。
The executive order itself: "certain agricultural products shall not be subject to the reciprocal tariff imposed under Executive Order 14257", effective for goods entered "on or after 12:01 a.m. eastern standard time on November 13, 2025", with refunds processed by CBP.[1]
Hershey's Q3 2025 10-Q: gross margin 32.6% against 41.3% a year earlier, "driven by unfavorable commodity and tariff costs"; the company expected tariff expense to hurt full-year results.[1]
Food Dive: Hershey told retailers the week before about double-digit price increases, blaming the "unprecedented cost of cocoa" and not tariffs; it had asked the White House[2] in May to exempt cocoa from tariffs and expected tariffs to cost $15-20 million in the second quarter.
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