Johnnie Walker owner Diageo says Trump tariffs could hit profits by $150m

FTSE 100 group, which also owns Tanqueray and Smirnoff, is to cut costs - which could lead to job losses

• Business live - latest updates

Diageo, the drinks business behind Guinness and Johnnie Walker whisky, has said Donald Trump's tariffs could hit its profits by $150m (112m) each year, although it expects to be able to cushion about half of the expected blow.

The FTSE 100 group, which sells alcoholic drinks including tequila, gin and whisky, is one of the many businesses that have been hit by Trump's 10% tariff on UK and European imports.