Mexico junk food tax hits PesiCo and Coca-Cola
PepsiCo and Coca-Cola have both reported a decline in their sales in Mexico after the country implemented a tax on junk food and sugary drinks earlier this year.
PepsiCo said its sales of snacks dropped 3 percent in the first six months of this year, compared with the same period last year.
Both companies are spending millions of dollars to fight similar proposed taxes in California.
Source: The Star