O'Leary Ventures Chairman Kevin O'Leary shares whether he is interested in President Donald Trump's tariffs on steel and aluminum, the fate of US Penny, and whether he is interested in handling Tiktok sales.
President Donald Trump may feel one impact of his own tariff policy, as his beloved diet cola could soon be much more difficult to enter the can. Coca-Cola CEO James Quincy said during the proceeds call that there may be more “emphasis” on plastic bottles in the wake of President Trump's 25% tariff on aluminum imports. Ta.
“If one package suffers from increased input costs, we continue to offer other packaging that can compete in affordable spaces,” Quincey says. “For example, if aluminum cans become more expensive, you can focus more on your pets. [plastic] Bottle, etcetera. ”
Quincey also emphasized the importance of not exaggerating the impact on the “total system” of tariffs. According to CBS News. He admitted that the price rise as a result of tariffs is not “insignificant”, but that it “will not change the business fundamentally” and that the package is a “small component.” Ta.
Left: Then-Republican presidential candidate President Donald Trump joined Fox News Town Hall on January 10, 2024 in Des Moines, Iowa. Right: Diet Cola Cans from Coca-Cola on Artificial Grass Surfaces in San Ramon, California (Left: Jole Raidle/Getty Images, Right: Smith Collection/Gad/Getty Images)
What will happen to Trump's tariffs in China, Canada and Mexico?
About half of all aluminum used in the US is imported, most of which comes from Canada, Reuters reports. Coca-Cola imports aluminum cans from Canada and will face increased costs if President Trump's tariffs come into effect on March 12, 2025.
Canadian businesses are already feeling the impact of President Trump's tariffs. Canadian Broadcasting Company (CBC). However, after visiting Canadian Minister of Innovation, Science and Industry in Washington, D.C., François Philippe Champagne told the CBC that he believes Americans oppose the president's tariffs.
“I think they're beginning to realize how influential this is and how it can damage America,” Champagne told CBC. “If you say no to Canada, you'll basically have to say yes to China or Russia. I don't think that's what you want from the perspective of the important supply chain that is essential to North America's defense.
Soda packaging will be available on November 17th, 2023 at a grocery store in Las Vegas, Nevada. (Jakub Porzycki/Nurphoto via Getty Images)
How Trump's tariffs closed loopholes used by Chinese retailers
President Trump's executive order “adjusting iron imports to the United States,” but he said the tariff goal is to increase US aluminum production. When signing the order, the president said the country needs aluminum made in the United States and “not foreign land.”
Miami Beach, Florida, grocery store in Publix, and a variety of Coca-Cola products. (Jeffrey Greenberg/Universal Images group via Getty Images)
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“President Trump is taking action to protect the important American steel and aluminum industry, which has been harmed by unfair trade practices and global overcapacity,” the White House states the fact sheet on the president's declaration. I wrote it in.
In February 2025, President Trump and Canadian Prime Minister Justin Trudeau announced a month's delay in the proposed tariffs. This led to an agreement from Trudeau that President Trump discussed in his campaign to increase security along the US border. The orders delaying tariffs noted that if Canada fails to take “sufficient measures” to ease the flow of illegal immigration and illegal drugs, they could be implemented before the agreed date by President Trump.
