Coca-Cola Raises Prices Due to Aluminum Prices – Businesses

The US's favorite beverage is the latest "victim" of Trump's tariffs: The Coca-Cola Company has raised soft drink prices due to the 10% rise in prices of imported aluminum , according to CNN Money.

James Quincey, CEO of Coca-Cola, said that these increases, while disturbing, are necessary.

"We had to talk to our bottling partners and endure the price increases in the acidified beverage industry in the middle of the year, which is out of the ordinary. Here we see the costs of producing steel and aluminum.Here is the cost of the increase in the workforce, "says Quincey.

The company has stated that these price increases may vary by retailer and it remains at the merchant's discretion whether or not to increase prices.

"We have not commented on the specific price changes in the United States because they vary by channel and customer, and all increases are at the level of traders and they decide the price of the product on the shelf. "