Coca-Cola CEO James Quincey said Wednesday the company will raise prices on its carbonated sodas in response to President Donald Trump's tariffs on imported steel and aluminum that have triggered retaliatory duties.

In an interview with CNBC, Quincey said, "We had to take with our bottling partners an increase [in prices] in our sparkling beverage industry in the middle of the year, which is relatively uncommon."

"That's the metal steel and aluminum going up. The labor going up."

Quincey told The Wall Street Journal he expects Coke's bottlers and retailers to pass along the higher prices to consumers.

• GM Stock Falls as Trump Tariffs Bite Into 2018 Profit Forecast
• Trump, Juncker Forge Deal to Pull Back From US-EU Trade War