Will the Cost of a Can of Coke Go Up with Aluminum Tariffs?
Coca-Cola drinkers beware, many expect the price of canned food and soft drinks in cans to increase. Under the new contemplated tariffs out of the White House on steel and aluminum imports, the cost of getting a Coca-Cola in a can could be getting more expensive.
Robert Budway, the president of Can Manufacturers Institute, the company that represents the makers of the Coca-Cola Cans as well as many other manufacturers, commented that “A tariff on these aluminum and steel products will harm our industry and put food and beverage cans at a disadvantage among competitive packages, such as plastic and glass, which are not subject to tariffs.”
While can manufacturing companies are in an uproar about the new tariffs, Commerce Secretary Wilbur Ross says that the new tariffs are “no big deal” and will only add six-tenths of one cent to cost of a Campbell’s soup can.
Without the release of more details on the tariffs, there is no way to measure the precise impact that the tariffs will have on the price of goods. There is also the possibility that certain countries could be excluded. It is suggested that most likely companies who manufacture steel and aluminum products will feel the effects of the tariff rather than consumers.