CNBC's Becky Quick reports on the latest news regarding Coca-Cola using cane sugar in U.S. sodas.

Washington

President Trump stated that Coca-Cola would begin using cane sugar in its U.S. sodas, citing discussions with the company and claiming they had agreed to the change. Currently, Coca-Cola in the United States is made with high fructose corn syrup, and the announcement led to a decline in shares of a major corn syrup producer.

However, Coca-Cola did not confirm the switch in its official response. Instead, the company thanked the president for his interest and indicated that more details about new product offerings would be shared soon. The company did not explicitly commit to replacing high fructose corn syrup with cane sugar in its main product line.

President Trump says Coca-Cola will use cane sugar in soda in U.S.

President Trump says Coca-Cola will be updating its American ingredients list. That news coming in a Truth Social post from the president, who is a noted fan of Diet Coke. He said, I've been speaking to Coca-Cola about using real cane sugar and Coke in the United States, and they have agreed to do so. He added, it's just better. U.S. Coca-Cola is made with high fructose corn syrup, at least as best as we know. It is a secret recipe. Archer Daniels Midland is one of the biggest producers of that ingredient. The shares for Archer Daniels are down by about 5.7 percent, much lower in the pre-market. When asked later yesterday about the president's claim, Coke didn't explicitly say that it would make that switch to cane sugar. In a statement, the company said, we appreciate President Trump's enthusiasm for our iconic Coca-Cola brand. More details on new innovative offerings within our Coca-Cola product range will be shared soon. So, if you're reading through the corporate speak here, it sounds to me like, oh my gosh, he made public comments that we were making to him kind of privately with maybe something we're planning. I would almost wonder, based on that statement, if they're just going to do a different line of Coke that says pure cane sugar and keep the old stuff there too. In fact, they go on to say that they're thinking about introducing something called New Coke. Do you remember that? Yes. It was during the Cola Wars with Pepsi. Pepsi. Yeah. I mean, the reversal on that. Is that like 30 years ago? No, it's like 40 years ago. Yeah, but it was back in the 80s. Huge hoopla. Maybe 35 years ago. Huge campaign. Big campaign, they did it. It's also been written up in business schools because they thought they were losing out to Pepsi. They wanted to catch the Pepsi generation was going on at that time. They wanted to capture the younger generation. It's also the fastest about face that you've just about ever seen. Yeah. Where this is a marketing stroke of genius or actually corporate governance that is still studied to this day in Harvard and other places about how quickly they pulled it and said, never mind, we made a mistake. We're going back to the old stuff. And here we are now with 10 different versions. Coke Zero, and they kind of did introduce a bunch of New Cokes, but they just didn't give them the old Coke. Yeah, but they didn't. That makes a big difference. I would be shocked. In fact, then they start calling it Coke Classic. Coke Classic. Yeah, it's Coke Classic.

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