Norm Needleman is the president of the leading manufacturer of effervescent products in the United States, Tower Laboratories.
The company makes products for major brands like Alka Seltzer and generics that fizz.
“If it fizzes, we make it,” Needleman said Tuesday.
Since the Trump administration slapped tariffs on a host of products and materials, Needleman says he’s nearing the point where he will have to raise prices, which means customers will see higher prices when they go to the store.
“You can’t have a worse way to execute tariff, trade policy than what he’s doing because the end result is that the consumer pays more.”
Specifically, the tariff on aluminum that’s imported into the United States has led to retaliation by other countries, leading to prices hikes of 25 percent from Needleman’s supplier. Combine that increase with a higher cost for stock for packaging from Canada as a result of another tariff, Needleman says he’s already identified $800,000 in higher costs for his business.