Hold onto your sodas and steering wheels! US beverage and automotive industries are bracing for impact as former President Donald Trump's 25% tariffs on steel and aluminum imports threaten to drive up prices. With CEOs of major brands like Coca-Cola and Ford sounding the alarm, here's the lowdown on how this could hit your wallet.
Coca-Cola's Fizz Factor at Risk?
Coca-Cola's CEO recently flagged that higher metal costs from tariffs could squeeze production budgets. Aluminum is key for soda cans—and pricier materials might mean your go-to six-pack gets a bubbly price tag.
"We're exploring efficiencies," the exec said, hinting at potential cost-cutting measures—or worse, passing costs to consumers.
Ford Revs Up Concerns
Ford’s leadership warned that tariffs could "disrupt supply chains and inflate vehicle prices," putting affordable electric cars and trucks in the slow lane. As EVs rely heavily on specialized metals, eco-friendly rides might become a luxury few can afford. "This isn't just about profits—it’s about progress," a spokesperson stressed.
Analysts say the ripple effects could extend globally, reshaping trade dynamics and consumer markets. Will Congress pivot? Or will your next cola or crossover SUV come with a premium? Stay tuned.
Reference(s):
cgtn.com