Donald Trump’s tariffs on wine and spirits will cause a profit reduction of 173 million euros for Diageo, the world's largest spirits maker. The company has projected flat sales for 2026 and raised its cost-savings target by 108 million euros in light of the substantial impact from tariffs. Meanwhile, negotiations regarding the tariffs for wines and spirits are ongoing, with sources indicating that discussions about spirits are progressing more rapidly than those for wine. In a separate context, ongoing Russian attacks on civilian targets in Ukraine have sparked calls for increased sanctions from Western leaders.
Donald Trump's tariffs on wine and spirits will reduce Diageo's profits by 173 million euros. The company has raised its estimate of the tariffs' impact.
Diageo forecasts flat sales for 2026 and has increased its cost-savings target by approximately 108 million euros due to the ongoing tariff situation.
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