Chinese tariffs on imported U.S. pork have so far hit only one producer very hard—a Chinese company.
Shares of U.S. pork suppliers Tyson Foods Inc. and Hormel Foods Corp. were little changed Friday after China announced the tariffs, but WH Group Ltd. plunged. Hong Kong-based WH is suffering the most because its U.S. arm, Smithfield, is the world’s largest pork producer. WH acquired the company for $4.73 billion in 2013.
A representative for Smithfield declined to comment on the tariffs.