Jul 26, 2018

Coke raises soda prices, citing Trump tariffs on aluminum

Photo: Justin Sullivan/Getty Images

Coca-Cola CEO James Quincey told CNBC on Wednesday that the company will raise prices on its carbonated sodas later this year in response to President Trump's tariffs on imported steel and aluminum on some of the U.S. closest allies, which have slapped retaliatory duties.

"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."
— Quincey said on CNBC's Squawk on the Street after Coke reported earnings.

He added, however, that the company has a slight advantage over others because its products are American-made. "We're very focused on creating local businesses, with local factories, with local jobs, with local blue collar," he told CNBC. "Less trade and more tariffs will mean less economic growth in the end and that will affect us."

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Americans urged not to travel to South Korea as coronavirus cases near 1,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The CDC warned travelers in an alert to avoid all nonessential travel to South Korea, as the number of confirmed cases of the novel coronavirus in the country rose to 977 on Tuesday morning.

The big picture: WHO has expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,699 people and infected more than 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 7 mins ago - Health

Trump says RBG and Sotomayor should recuse themselves from his cases

President Trump at Sardar Vallabhbhai Patel International Airport in Ahmedabad, India, on Monday. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted during his India visit late Monday that Supreme Court justices Sonia Sotomayor and Ruth Bader Ginsburg should "recuse themselves" from cases involving him or his administration.

Why it matters: The president's criticism of the liberal justices comes after he attacked the judge overseeing the case of his longtime advisor Roger Stone, who was sentenced last Thursday to 4o months in prison for crimes including lying to Congress and witness tampering.

Deadly clashes erupt in Delhi as Trump visits India

Rival protesters over the Citizenship Amendment Act in Delhi, India, on Monday. Photo: Yawar Nazir/ Getty Images

Delhi Chief Minister Arvind Kejriwal called for calm Tuesday as deadly clashes erupted in the city's northeast between supporters and opponents of India's controversial new citizenship law.

Why it matters: Per the BBC, a police officer and six civilians "died in the capital's deadliest day" since last year's passing of the Citizenship Amendment Act — which allows religious minorities but excludes Muslims from nearby countries to become citizens if they can show they were persecuted for their religion — as President Trump and members of the U.S. first family are in Delhi as part of a two-day visit to India, though it's away from the violence.

Go deeper: India's citizenship bill continues Modi's Hindu nationalist offensive