Coca-Cola says it’s raising prices because of aluminum tariffs

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SAN RAFAEL, CA – JULY 25: Cans of Coca Cola are displayed on July 25, 2018 in San Rafael, California. Coca Cola announced plans to raise soda prices in North America due to rising prices of metals following tariffs imposed on Chinese imports by the Trump administration. (Photo by Justin Sullivan/Getty Images)

(WCMH) – Coca-Cola says it is raising prices in North America because a recently-enacted 10 percent tariff on imported aluminum has made the drink cans more expensive to produce, according to CNNMoney. 

On a company earnings call Wednesday, CEO James Quincey admitted the price hike was “disruptive” but said it was necessary.

A Coca-Cola spokesperson told CNNMoney the price increases will vary depending on the retailer, and it is up to stores to decide if they will raise prices on the iconic brand. 

For more information can be found on CNNMoney.com.

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