Diageo PLC

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Maintaining Fair Value Estimates for European Spirits Makers Amid Tariff Threats

Verushka Shetty

Mar 13, 2025

Shares of Diageo, Pernod Ricard, Rémy Cointreau, and Davide Campari-Milano fell on March 13 after US President Donald Trump threatened to impose a 200% tariff on several alcohol products from the European Union. This followed the EU’s retaliation against Trump’s 25% steel and aluminum tariffs in which the EU plans to impose a tariff on US whiskey, along with other industrial and farm products. On March 6, Trump postponed a majority of the 25% tariffs on imports from Mexico and Canada for a month. The situation is dynamic, with uncertainty about the magnitude of the hit to the spirits being exported to the US.

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Diageo PLC

Maintaining Fair Value Estimates for European Spirits Makers Amid Tariff Threats

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