US President Donald Trump’s tariffs on steel and aluminum imports are stirring concerns among major beverage and automotive companies. Executives from Coca-Cola and Ford have recently voiced worries that the 25% tariff on steel could lead to higher prices for consumers.
Coca-Cola’s CEO, James Quincey, announced that the company is feeling the pressure from rising metal costs. “The tariffs on imported metals—steel and aluminum—have had a direct impact on our business,” Quincey said. “We are reluctantly raising prices on our beverages in response.”
Similarly, Ford Motor Company’s CEO, Jim Hackett, highlighted that the tariffs could cost the automaker up to $1 billion in profits. “These tariffs have put us in a challenging position,” Hackett stated. “We might have to adjust prices to offset the increased costs of manufacturing.”
The tariffs, imposed earlier this year, are intended to protect US metal producers. However, industries that rely heavily on steel and aluminum are feeling the pinch. Analysts warn that consumers might soon notice price hikes on everyday products like soft drinks and vehicles.
Younger consumers, especially those in developing countries, could be affected as global prices adjust. Economists suggest keeping an eye on market trends and exploring alternative options when making purchases.
