Trump's Coca-Cola recipe demand threatens market chaos

Daily Mail​

17-07-2025

Donald Trump has been pushing Coca-Cola bosses to get sugar back in the US-produced version of the drink - but the move could have costly consequences. The president announced via Truth Social on Wednesday that he has been speaking with executives about 'using REAL Cane Sugar in Coke in the United States'. However, industry experts have warned that removing sweeteners from the drink in favor of real sugar could cost thousands of American jobs in manufacturing, and the idea has already caused chaos on the stock market.
Corn Refiners Association CEO John Bode released a statement on Thursday warning that the recipe change could trigger economic mayhem and political turmoil. 'Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit,' Bode said. Coca-Cola bosses have avoided confirming Trump's proposal, which would make the US version of their product taste much more like Mexican Coke.
'We appreciate President Trump's enthusiasm for our iconic Coca-Cola brand,' the $300 billion company said. 'More details on new innovative offerings within our Coca-Cola product range will be shared soon.' But Trump's announcement alone has already prompted shockwaves to rip through the stock market, costing investors billions of dollars. Shares in Archer Daniels Midland, a leading corn processor, plunged almost six percent in pre-market trading on Thursday.
This reflects a potential hit to investors of around $1.5 billion. Another major corn refiner called Ingredion also suffered a nosedive in value, with shares dropping almost seven percent. Trump famously installed a red button on his desk that allows him to quickly summon a Diet Coke, his favorite drink.
California Governor Gavin Newsom slammed Trump's Coke negotiations as a distraction technique after the president reneged on his promise to release the Epstein files. The Democrat governor shared a screenshot of Trump's Truth Social post via X with the caption: 'Oh thank god! I've totally forgotten about the Epstein files now!' An X user's replied to Newsom's tweet, asking Coca-Cola for clarification on whether Trump was 'telling the truth', prompting the company's statement about Trump's negotiations.
Trump's social media posts also prompted the company to defend its use of high-fructose corn syrup in its US recipe. 'The name sounds complex, but high fructose corn syrup (HFCS) – which we use to sweeten some of our beverages – is actually just a sweetener made from corn,' Coca-Cola wrote in an X post. 'It's safe; it has about the same number of calories per serving as table sugar and is metabolized in a similar way by your body.
'The American Medical Association has confirmed that HFCS is no more likely to contribute to obesity than table sugar or other full-calorie sweeteners. 'Please be assured that Coca-Cola brand soft drinks do not contain any harmful substances. 'All Coca-Cola brand products are wholesome beverages manufactured in compliance with the federal law governing food safety and labeling, the laws of all the states, and the laws of over 200 countries throughout the world where they are sold.'
The company switched from sugar to cheaper high-fructose corn syrup in the 1980s. It is the second ingredient after carbonated water in a can or bottle of Coke, according to the company. There are debates about which tastes better, but some prefer the taste of the original – as evidenced by the import of Mexican Coke into the U.S. Mexico continued to use sugar in its plants for a number of years, and some Mexican migrants and others across the border prefer that flavor, which prompted an import regimen.
The Daily Mail has reached out to Coca-Cola about any change in its manufacturing or recipe and any other agreements the company reached with the president. Company CEO James Quincey has told investors that 'we continue to make progress on sugar reduction in our beverages,' as Axios noted. He said it had done so 'by changing recipes as well as by using our global marketing resources and distribution network to boost awareness of and interest in our ever-expanding portfolio.' It is unclear how the shift will play out in the new highly volatile tariff environment.
Trump has announced a 50 percent tariff on Brazil, one leading sugar producers. Other producers have negotiated prior free trade agreements with the U.S. but now face a 10 percent baseline tariff. Florida has its own heavily subsidized sugar industry sometimes called 'Big Sugar' by critics for its political influence. U.S. sugar companies currently get subsidies totaling $4 billion per year. That makes the price in the U.S. about double the global price.