Profit hangover for booze firm

DIAEGO HIT BY TRUMP'S TARIFFS TOO

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GUINNESS maker Diageo is to increase cost cutting after revealing a blow in Donald Trump's tariff war along with a slump in annual profits.

The firm, which also makes Johnnie Walker whisky and Gordon’s gin, is already reeling from falling global demand for alcohol, especially among the young.

Now the US President's tariffs have led to Diaego forecasting a £150million annual profits hit this year.