Diageo has lowered its sales targets amid uncertainties from the US tariffs war, affecting its significant North American market where it derives 38% of its sales. With net sales dropping by 0.6% to $10.9 billion, the company anticipates a decline in Canadian whisky and tequila due to the tariffs. Despite these challenges, some growth is apparent—tequila sales in the US rose 23%. Diageo's CEO noted ongoing efforts to mitigate potential tariff impacts as they remain in talks with the US government.
Diageo has cut their sales target as uncertainty over US tariffs may impact sales, especially for Canadian whisky and tequila brands.
In response to the tariffs announcement, Diageo is engaging with the US government to mitigate possible disruptions and their economic effects.
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