Coca-cola and Chevy to raise prices amid tariff war | New York Post

Get ready to dig a little deeper for a Coke or Chevy Silverado.

Both Coca-Cola and GM said Wednesday they will have to raise prices on their iconic products in large part because of President Trump’s trade war.

The rising price of European aluminum and steel is expected to pinch their bottom lines — and the unexpected increases will be passed on to the consumer, the companies said.

“Clearly it’s disruptive for us,” Coca-Cola Chief Executive James Quincey told analysts while reporting the company’s second-quarter results, speaking about the cost increases. “It’s disruptive for our customers.”

Later, in an interview with CNBC, Quincey noted that the off-cycle price hike was “pretty unusual” for the brand.

“The tariffs on the metals, it’s one of many factors [that] cost us to go out in the middle of the year and announce price increase,” he said.

Read complete article here:

Coca-cola and Chevy to raise prices amid tariff war.