Newscasts - Heineken cheers EU-US trade deal as tariff problems grow
28/07/2025 11:39
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_t01daim5&referenceId=tag:reuters.com,2025:newsml_RW301828072025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: Dutch brewer Heineken welcomed a trade deal between the European Union and the United States and said on Monday that it was weighing all options to deal with growing tariff challenges in the long term, including shifting manufacturing. Fiona Jones reports. Short Link: https://refini.tv/3UvZ0Fo Video Transcript: Heineken welcomed an EU-US trade deal on Monday, as it kept its annual guidance. Although the world's number two brewer further said it was weighing up its options long term over growing tariff challenges. This includes shifting manufacturing, as the Dutch firm exports its beer brands to the US from Mexico and Europe. Nevertheless, it reported a forecast-beating 7.4% increase in organic operating profit in the first half. The major global brewer credited growth in once-difficult regions like Africa and Asia as well as cost savings. Heineken also continues to expect annual profit growth of between 4% and 8%. Its CEO welcomed the certainty brought by the EU-US trade deal on Sunday. It reduced a potential 30% US tariff on EU goods to 15%, a rate that would still hit Heineken's US profits. However, the brewer still faces US tariffs of up to 30% on its Mexican-produced goods. That's unless the two countries strike a deal before the August 1 deadline. Shares dropped over 4% in early trade.