Guinness maker Diageo facing €133m annual hit from US tariffs

Continued uncertainty impacting both the timing and pace of recovery, says drinks giant

Guinness maker Diageo forecast an annual $150m (€133m) hit from US president Donald Trump's tariffs, and has launched a $500m (€446m) cost-savings programme.

Guinness maker Diageo is forecasting a €133m annual hit from US President Donald Trump's tariffs, and has launched a $500m (€446m) cost-savings programme.

The world's largest spirit maker, whose brands include Baileys, Johnnie Walker, Smirnoff and Tanqueray, said it would be impacted by a 10% tariff on European and UK imports into the US. Diageo's CEO Debra Crew said they will be able to mitigate around half of this impact, but put the cost of the impact at $150m (€133m).