Coca-Cola says it's raising soda prices after Trump tariffs

[Judi Lynn]

Source: The Hill


BY EMILY BIRNBAUM - 07/25/18 10:01 PM EDT

Coca-Cola Company on Wednesday said they will raise the price of their signature sodas this year in part because of the financial strain caused by President Trump's tariffs.

Coca-Cola's Chief Executive James Quincey told the Wall Street Journal that they are stepping up prices in response to the rising costs of delivery and metal prices after the U.S. slapped $50 billion duties on Chinese products earlier this year.

He declined to give further details about the price change and pointed to multiple factors influencing the change.

“There is some broad-based push on input costs that have kind of come in and affected ours and many other industries as well,” Quincey told the Journal.

Read more: http://thehill.com/policy/finance/398926-coca-cola-raises-soda-prices-due-to-tariffs

[George II]

1. I'm really getting sick of winning, aren't you?

[SCVDem]

2. So much winning ! nt

[elmac]

3. but, but, but, what happened to that big tax break? nt

[SergeStorms]

13. Stock buy-backs.

Coca Cola stock prices are up about $4 a share since Trump's tax-scam kicked in. That's exactly the desired effect the Trump-monkeys were looking for. Mission accomplished!

[keithbvadu2]

4. Thanks, Donald.

[ck4829]

5. I physically *need* caffeine, so guess who isn't going to #walkaway now, righties? *

* Not going to 'walkaway', but it is a joke I do with a couple of other people of social media to pick on the 'walkaway' hashtag-users.

"I was about to #walkaway then you started screaming about 'libtards', so I don't know, sorry..."

[PoindexterOglethorpe]

6. The most important question, which is not answered here, is

by how much?

Personally, I don't drink soft drinks, so I won't be affected by this, but there are other things I use or consume that no doubt will be affected by Trump's stupid tariffs.

[progree]

7. More winning: General Motors is prepared to raise prices to offset commodity price jump

General Motors is prepared to raise prices to offset commodity price jump

General Motors lowers its profit outlook for the year on higher commodity costs.

General Motors posts higher-than-expected adjusted per share earnings.

It says higher raw materials prices and unfavorable exchange rates in Argentina and Brazil will cost it $1 billion.

https://www.cnbc.com/2018/07/25/general-motors-prepared-to-pass-along-raw-materials-costs-to-consumers.html

Specifically higher steel and aluminum prices due to tariffs

[MontanaMama]

8. Sorry Deplorables...

That 10 gallon big gulp of coke gonna cost a bit more...

WOMP WOMP...

[olddad56]

9. music to Putin's ears. He and his puppet want an inflation.

and lets face it, soft drinks are nothing but poison to begin with.

[JI7]

10. something else that is more likely to affect Trump Voters

[ansible]

11. Honestly, it'd be a good thing to have less people drink sodas

It's the #1 cause of obesity, more than solid food

[LiberalLovinLug]

12. Never understood some liberals resistance to the idea of taxing soda pop more

It so cheap anyways, a few pennies more wouldn't kill ya (like sugar does)

I was really shocked when liberal guru Jon Stewart did a hit piece on the proposal for New York (I think) to add a tax, or maybe reduce the cup size you could buy, or maybe both. He, and I guess other liberals, view it as an encroachment on "the pursuit of happiness" or something. Freedom and all that.

Now I'm a big sugar addict myself. But I know its bad for me. Refined white sugar and corn syrup too are basically poison to the human body. If there was ANYTHING that should be taxed more it is the sugary drink industry. All that extra money to put towards health and the bonus is fewer health related problems due to overdosing on sugar.

[BumRushDaShow]

14. Philly has done that and just last week, it survived a state Supreme Court challenge

http://www.philly.com/philly/news/soda-tax-philadelphia-supreme-court-pennsylvania-20180718.html

But here, it is "by the ounce" (so not just a few pennies more) - i.e., 0.015 cents per ounce or 18 cents more per 12 oz can. And the controversy is that it is essentially a regressive tax hitting the poorest, who often sadly have little access to fresh fruit juices... But additionally, in the city's legislation, it is a "sugary drink" tax so it includes things like sweetened ice tea or some juices like cranberry or cranapple, etc., if not "100% juice" (meaning not diluted with water, which most of those are), and also applies to "artificially sweetened" products.

What is taxed

The tax is not just on sodas. This tax is on any non-alcoholic beverage, syrup, or other concentrate used to prepare a beverage that lists as an ingredient any form of caloric sugar-based sweetener, including, but not limited to sucrose, glucose, or high fructose corn syrup.

Drinks considered “diet” or “zero calorie” are also taxed. Specifically, this tax is on any non-alcoholic beverage, syrup or other concentrate used to prepare a beverage that lists any form of artificial sugar substitute, including stevia, aspartame, sucralose, neotame, acesulfame potassium (Ace-K), saccharin, and advantame.

Examples of sweetened beverages

Soda (regular and diet); non-100%-fruit drinks; sports drinks; sweetened water; energy drinks; pre-sweetened coffee or tea; and non-alcoholic beverages intended to be mixed into an alcoholic drink.

https://beta.phila.gov/services/payments-assistance-taxes/business-taxes/philadelphia-beverage-tax/

[NickB79]

16. Fresh fruit juice is really no better than soda

Same sugar content and no fiber.

[BumRushDaShow]

17. Sugars are not all the same...

and is based on how the body metabolizes it. Refined sugar like "sucrose" has been one the major issues. Fruit juice without added sweeteners like HFCS, is fine as a natural product and in the case of citrus, is a source of vitamin C. Fiber can be obtained from plenty of other foodstuffs.

Let's Make America Scurvy Again!

[mopinko]

18. chi/cook county had it and repealed it.

PISSED ME OFF!!
esp as it was cook county, which runs the healthcare system of last resort. it would have led to lower costs for them, and anyone in their right mind would see that as a win/win.

but people hated it. and bitched and bitched and bitched.

[Bengus81]

15. Good,get that inflation rockin and rollin and yeah...try blaming tariffs on Obama

Last edited Thu Jul 26, 2018, 08:08 AM - Edit history (1)

Many of these increase are bogus BS and are just more Corporate greed but let Trump deal with the inflation.

[kimbutgar]

19. If the company who manufacturers Mountain Dew raise their prices they'll be a revolt in

Red states. I hope Twitler gets blamed for this.

[roamer65]

20. This will be the end of canned soda.

They will switch to small plastic bottles of the same size. All you will get is plastic.