Commerce Secretary Wilbur Ross should have held up a soda can on live TV, too.
Due to its main business being tied to sales of hipster-fav sparkling water brand LaCroix, National Beverage (FIZZ) - Get National Beverage Corp. Report will be one of the most impacted beverage companies from Trump's new tariffs on steel and aluminum, says Credit Suisse. Several other names well-known to the thirsty crowd will probably see their profits pummeled as well.
"Monster Beverage (MNST) - Get Monster Beverage Corporation Report and Molson Coors (TAP) - Get Molson Coors Beverage Company Class B Report are both at risk given the large U.S. presence and the fact that each is a heavy user of aluminum cans for packaging (more than 90% for Monster; 70% for Molson Coors); however, Monster will enjoy some offset from lower sugar prices and Molson Coors from lower agricultural commodity costs," Credit Suisse analyst Laurent Grandet writes.
The least impacted: more diversified beverage giants such as Coca-Cola (KO) - Get Coca-Cola Company Report (uses plastic for many drinks) and Action Alerts Plus holding PepsiCo (PEP) - Get PepsiCo, Inc. Report (has a snacks food division).
Either way, be prepared for higher soda prices soon ... and possibly less fatter profits.