Coca Cola CEO James Quincey says that the company will be forced to increase prices on its soft drinks largely due to President Trump's imposition of tariffs on aluminum and steel.
So, if you are addicted to a Coke product like I am (Diet Coke), you can thank our genius president for the privilege of paying more.
"We had to take with our bottling partners an increase [in prices] in our sparkling beverage industry in the middle of the year, which is relatively uncommon," Quincey said after Coke reported earnings the other day. "That's the metal steel and aluminum going up. The labor going up."
The Trump administration has enacted steel and aluminum tariffs on numerous nations including allies Canada, Mexico and the European Union, which have launched retaliatory measures. The result is higher prices, including on cans that soft drinks come in.
"The tariffs on the metals, it's one of many factors [that] caused us to go out in the middle of the year and announce price increase," Quincey said.
I wonder how many Trump supporters are Coke drinkers and whether they will even realize the higher prices they are paying is due to their favorite president. It's incredible, the stubborn, blind loyalty of these people, so they will probably say it's all fake news -- that they really aren't paying more, even when their grocery bills go up.
A bunch of Trump backers have been trolling my Facebook page recently, reacting to my Not Fake News post about the #IMPEACH shirts and caps that are available in the NFN store.
Here's an example:
Brilliant, aren't they?
I am a liberal and proud of it. My suggestion is that these people begin paying attention to what is really happening in our country, not what Trump says is happening.