Carlsberg’s chief executive has warned that the impact of US tariffs on already weak consumer spending means there will be “no winners”, even though the Danish brewer is “insulated” from the direct fallout of the levies.
Carlsberg’s chief executive Jacob Aarup-Andersen told the Financial Times that the brewer was largely protected because it sells only a small amount of beer to US consumers. However, he cautioned: “We look at it with the same concern as everyone else because this [risks] creating a slowdown in the global economy?.?.?.?that could impact consumer spending.”
European businesses with less direct exposure to President Donald Trump’s tariffs on US imports are bracing themselves for aftershocks, including the potential dent to already fragile consumer confidence, inflationary pressures and the impact of diverted exports on demand and raw material costs.