UK's Diageo up; report says bourbon exempt from EU Commission's proposed counter-tariffs

Shares of spirits maker Diageo DGE.L up 1% to 1997p

European Commission proposes counter-tariffs of 25% on a range of U.S. goods on Monday in response to President Donald Trump's tariffs on steel & aluminium, a document seen by Reuters showed

Other potential items like bourbon whiskey were left off the list, as per the document seen by Reuters

Tariffs on some goods will come into effect May 16 & other later in the year, on Dec 1, the document said

European spirits exports alone to U.S. stands at 2.9 bln euros ($3.18 bln) in 2024, according to trade body spiritsEurope

As of last close, stock down ~22%, YTD