According to news reports, Sonoco Products Co. announced Monday that in response to recent tariff announcements, the company plans to raise prices on all composite cans and metal ends in the US and Canada by 4 percent, effective Aug. 1.
"Sonoco's global sourcing power and commitment to supply security have allowed us to effectively mitigate historic inflationary pressures," said Robin Gordon, a division vice president of sales, in a statement to media. "However, the recent trade announcements assigning tariffs on the steel and aluminum supply, along with strong regional demand, have placed unprecedented stress on our suppliers' feedstocks and corresponding input costs."