Trump's tariffs set to drive up bar bills and cut jobs [Yahoo! Finance Canada]
Diageo plc (DEO)
US:NYSE Investor Relations:
diageo.com/en/investors
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Source: Yahoo! Finance Canada
drinks brands will disappear from U.S. bar menus as a result of President Donald Trump's reciprocal tariffs, industry bodies said on Thursday. Trump set out the latest round of U.S. tariffs on Wednesday, upending a globalised trade system and adding to the stress on the world economy, including on the alcohol sector and its biggest players, such as Diageo and Heineken. In addition to global levies, Trump announced a 25% tariff on beer imports, as well as higher tariffs for EU imports to the U.S., and the alcohol sector is further hit by the inclusion of empty beer cans in existing aluminium tariffs. Compounding the problem, many categories of drinks have to be made in specific countries or regions so manufacturers cannot dodge tariffs by shifting pr
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