Zelenskyy urges US and EU to fast-track sanctions and secondary tariffs a day before Trump’s envoy is expected in Moscow
Diageo, maker of Guinness, Smirnoff vodka and Johnnie Walker whiskey, has said Donald Trump’s tariffs on wine and spirits will reduce its profits by €173m (£150m).
The world’s biggest spirits maker is the latest company in the EU to reveal the high cost of the US president’s new tariff trade wars.
On Tuesday it forecast flat 2026 sales, raised its estimate of the impact from tariffs, and hiked its cost-savings target by about €108m.
The EU had hoped wines and spirits would remain duty free after Trump and European Commission president sealed the tariff deal at Trump’s Scottish golf course eight days ago but negotiations are ongoing.
