U.S. tariffs could cause the prices of steel and aluminum cans to rise, an increase that may ultimately be passed on to consumers.

Blunt instruments like tariffs are a zero-sum game but manufacturers can work to ensure they are not too badly affected.

When James Quincey became CEO of Coca-Cola in 2017, soda had broadly been in decline over its health effects. The beverage giant was embarking on an effort to diversify its reach beyond the sugary ...