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 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.
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 - Get Report) and Molson Coors (TAP - Get 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 Report) (uses plastic for many drinks) and Action Alerts Plus holding PepsiCo (PEP - Get Report) (has a snacks food division).
Either way, be prepared for higher soda prices soon ... and possibly less fatter profits.