By Laura Cooper
Aluminum tariffs could boost the price of President Trump's favorite drink.
Coca-Cola imports aluminum from Canada for its U.S. soda cans, Chief Executive James Quincey said. Trump, a fan of Diet Coke, on Monday announced a 25% tariff on steel and aluminum.
The soda company is working to ease any potential price increases, Quincey said, by examining ways to use less aluminum and finding different sources of the material. Coke has long-term hedging programs, he said, so any impact would not hit "immediately on day one."
In the U.S., the company increased prices by about 6% in the latest quarter, Quincey said.
Coke shares $(KO)$ rose about 3% in premarket trading after the company reported a 14% rise in organic revenue in the quarter and a 2% increase in global sales volume.
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(END) Dow Jones Newswires
February 11, 2025 08:45 ET (13:45 GMT)
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