Trump can’t tweet his way out of this one. The belligerent U.S. president’s administration imposed 10% tariffs on imported aluminum from a host of major countries earlier this year, and you know what’s made with aluminum? Coca-Cola cans.
The soda manufacturer has revealed that because of the tariffs, prices of their soda will be going up.
‘Obviously, while [customers] may understand the cost pressures that are out there on freight, on the increases in steel and aluminum and other input costs that affect the bottling system and affects some of our finished products, clearly, these conversations are difficult.’
The company did not disclose specifics about the price increases because they will vary across the market. The prices will go up for those who buy straight from the company and actually sell the product to consumers, and how that shift does or doesn’t translate into shelf price changes will be individual stores’ decisions.
This shift in operations for a major American company is the latest example that the steep tariffs Trump imposed aren’t as “great” as he claims.
Companies including Harley Davidson and BMW have been forced to shift their operations under the weight of the trade war Trump’s policies have sparked. China, the European Union, and others have unveiled retaliatory tariffs that have pushed American industry — the very interest Trump claims to be trying to protect — into a corner, although this newly announced price hike for Coke is a direct result of a Trump administration tariff and not that of an after effect.
How the hurt Trump has inflicted on American agriculture and industry through his tariffs affects both his re-election chances and the midterm elections later this year remains to be seen.
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