Kraft Heinz is spending $3 billion to upgrade its U.S. factories, its largest investment in its plants in a decade, even as executives say consumer sentiment is at its second-lowest point in 70 years,

The upgrades will help lower costs by making the plants more efficient, which in turn may help offset President Donald Trump's tariffs.

The Chicago-based maker of Heinz ketchup and Kraft mac and cheese told Reuters the need to offset tariff costs factored into its decision.