BROOKLYN, N.Y. — A week after AriZona Beverage’s founder said they were considering raising prices on their cans for the first time in 30 years, they’re addressing those concerns. 

Chairman and co-founder Don Vultaggio told TODAY there are no plans to increase their legendary 99-cent price tag. 

“We’re trying to hold the line,” he said in an interview aired Thursday. “I can tighten my belt because the people I service and the customers of mine, they’re tightening their belt every day.” 

Talks about raising prices were in response to President Donald Trump’s tariffs, particularly on aluminum. AriZona uses more than 100 million pounds of aluminum annually for its cans, with approximately 20% sourced from Canada. Trump’s tariffs double the tax on aluminum being shipped into the U.S. to 50%. 

Though only 20% is sourced from Canada, TODAY says most of the aluminum the company uses, which is recycled in America, will also be tariffed. 

“I hate even the thought of (raising the price),” Vultaggio told The New York Times last week. “It would be a hell of a shame after 30-plus years.”

If the price of AriZona cans kept pace with inflation over the years, the company would be selling its iced tea for $1.99 today, The NYT reported. Instead, the 99-cent price has remained so central to the brand’s identity that the numbers are prominently displayed on every can.

The company has had to refute viral claims of price hikes in the past when photos of cans printed with a $1.29 price pop up online. Those beverages are in Canadian dollars, which is equivalent to 99 cents in U.S. currency. Although the cans are pre-printed with the suggested 99-cent retail price, the company’s website acknowledges some stores may charge more than that.

Vultaggio told TODAY the cans are costing him about 40% more, resulting in millions of dollars the company has to absorb. 

He says there’s a way for the company to offset the costs — sell more products. 

It’s resulting in them pushing to use more plastic bottles, cutting the price of their 20 oz. “tall boy” drink from $1.25 to just $1. 

“Offering value is always a good idea, and when you can do it, you should,” Vultaggio told TODAY. “I grew up in Brooklyn, and I worked for $1 an hour. I respect the value of $1. And I’d say, ‘if I can help people who do that and give them a refreshing beverage for an affordable price, why not?’ And since I can afford to do it, why not continue to do it?”