Spirits giant Diageo says Trump tariffs could hit profits by £161m

Drinks firm Diageo has warned that it will face a profit hit from potential US tariffs (Andrew Milligan/PA) -

Johnnie Walker and Guinness maker Diageo has warned that US President Donald Trump’s proposed US tariffs could deal a 200 million dollar (£161 million) blow to profits.

The spirits giant scrapped a key sales target because of growing uncertainty linked to the tariffs and volatile consumer demand.