Trump's tariffs set to drive up bar bills and wipe out spirits jobs [CNBC]
Diageo plc (DEO)
US:NYSE Investor Relations:
diageo.com/en/investors
Company Research
Source: CNBC
U.S. drinkers will pay more for cocktails, champagne and foreign beers, brands will disappear from bar menus and jobs will be lost on both sides of the Atlantic as a result of U.S. President 's , drinks industry bodies and analysts said on Thursday. Trump's latest round of global and country-specific tariffs was set to hit everything from the popular negroni cocktail, based on Italy's Campari liqueur, to Guinness stout, made by the world's top spirits producer Diageo. He also introduced a 25% levy on all beer imports and added beer cans to existing aluminium tariffs, hitting labels such as Mexican-made Corona and Dutch Heineken. Shares of some spirits companies such as Diageo and Campari however gained as threats of 25% tariffs affecting Mexican tequila and Canadian whisky did not materialise. A threatened 200% tariff on European alcohol also remained outstanding for now. However, industry bodies said the levies laid out on Wednesday were already high enough to hurt sectors that
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