Trump's Favorite Drink Just Got More Expensive - And He Only Has Himself to Blame
Coca-Cola has increased the price of its canned sodas following the 10 percent tariff imposed by President Donald Trump on imported aluminum.
CEO James Quigley described the "disruptive" price change as a needed measure due to Trump's tariffs.
The impact of these tariffs could become much more severe than a price hike on sodas.
Yahoo! News reports:
The Beer Institute, a trade group representing beer producers, estimated that the aluminum tariff would cost brewers $348 million and could lead to the loss of more than 20,000 jobs in the industry.
Commerce Secretary Wilbur Ross dismissed the possible negative consequences of tariffs in March by, ironically, holding up a Coke can.
"Who in the world is going to be too bothered by six-tenths of a cent?” Ross said, inventing a number.
Workers who lose their jobs because of this unnecessary trade war may have an answer.