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) 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.
This is a real picture of Wilbur Ross holding up cans. It has not been photoshopped pic.twitter.com/BcSNLk1CXN— Michael Cohen (@speechboy71) March 2, 2018
"Monster Beverage (MNST) and Molson Coors (TAP) 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.
Either way, be prepared for higher soda prices soon ... and possibly less fatter profits.