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Coca-Cola To Raise Soda Prices Thanks In Part To US Tariffs

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Coca-Cola To Raise Soda Prices Thanks In Part To US Tariffs
The company will be upping the prices on its carbonated drinks because the tariffs have made cans more expensive to produce.
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Coca-Cola's prices will be bubbling up soon, and it's thanks in part to recent U.S. tariffs on steel and aluminum imports.

The beverage giant's CEO said Wednesday the company will be upping the prices on its carbonated drinks because the tariffs have made cans more expensive to produce.

He told CNBC: "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. That's the metal steel and aluminum going up. The labor going up."

President Donald Trump imposed a 25 percent tariff on steel and 10 percent tariff on aluminum in March. Some U.S. allies were initially exempt, but that deal was temporary

It's unclear exactly how much Coca-Cola expects prices to go up.

Additional reporting from Newsy affiliate CNN.