Donald Trump's 10% tariffs on aluminum are turning up the price on his favorite drink, Diet Coke, and all the other products Coca-Cola distributes. CEO James Quincey said that the increase was unavoidable because of the higher cost of cans.
Clearly, it's disruptive for us. It's disruptive for our customers but I think the conversations have been about how is this going to work for each and every customer.
But people need not feel too sorry for the Coca-Cola company. They are projected to earn $7.6 billion in revenue this year.
Sodas aren't the only beverages to feel the squeeze; 60% of beer is made with aluminum cans, and the effects could be felt by consumers. Already Sam Adams says they will be increasing prices by up to 2%.