In the run-up to President Donald Trump taking office for his second term, it sure did seem like a good time to be in the business of plastics.
With his arrival, his “Liberation Day” special saw his administration enact reciprocal tariffs aimed at boosting US manufacturing jobs. Steel and aluminum imports, in particular, were especially painful, with duties rising to 50%. Granted, most of the tariffs were struck down by the Supreme Court last February, but the steel and aluminum tariffs have remained in place.
Coca-Cola CEO James Quincey, seeing the writing on the wall, admitted that the beverage maker would need to sell more beverages in plastic containers. Further, it gave the brand cover to push their sustainability goals to 2035 while also admitting they would rely less on recycled materials for their packaging. Many other brands followed suit, citing supply chain issues. Those added manufacturing costs were then passed on to consumers across the US, who were already tightening their belts because of ongoing inflation since the COVID pandemic.
