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%.
— Mike Harp (@MikeHarp1) July 30, 2018
— CNN International (@cnni) July 29, 2018
Some folks weren’t buying the need to raise the cost of Coke.
#CokeCola used the excuse of #Trumps #tariffs to #Raises #Prices After the #teriff it still cost fractions of a cent to make a can. #Coke is using this to #increase #profits Now good time to buy #stock in #CokaCola #NASDAQ: COKE https://t.co/v4JiVgaRXN
— IMADADcom (@ImaDADcom) July 30, 2018
Coca Cola is going to raise their prices and blame it on tariffs of aluminum and steel .
DON'T Have a coke and a smile .
The can maybe cost them 1/2 cent more if that and their going to charge you 50 cents more .
JUST SAY NO pic.twitter.com/d0tUGupUBF
— JESSE JAMES (@1bigbeer) July 27, 2018
It takes about 16 cents worth of aluminum to make a can and a 10% tariff was imposed to raise the cost of the can to a whole 17.6 cents. Coke is raising prices in general and blaming it on tariffs.
— Charles Painter (@TweetN4ABeatN) July 27, 2018
Others felt the price increase wasn’t such a bad thing.
— CNN (@CNN) July 27, 2018
Maybe this will get people to drink less soda
— кαятιк (@Kartikitrak) July 27, 2018
Advantage: Less soda, better health.
— Edgardo Sanabria (@PEdgardoSana) July 27, 2018
Diabetics beware! You may no longer be able to afford to be sick.
— Kyrin Betts (@KyrinBetts) July 27, 2018
Good thing i stopped drinking @CocaCola — need to drink more water anyway.
— Lucas Taylor ️ (@lucastaylor4U) July 27, 2018
Of course we all need to do our part to help the wealthy.
I'm happy to pay more for my Diet Coke as long as billionaires still get their tax cuts. https://t.co/5V0rl9H1vp
— (((Ad Resists Ω))) (@Adenovir) July 30, 2018
Perhaps the multi-billion dollar soda and beer companies could take a tiny profit loss to keep from raising prices for consumers.