India's Scotch Tariff Dispute: Impact on Diageo, Pernod, and UK Trade
Published . Updated .
India’s exclusion of bulk Scotch from lower tariffs raises trade tensions, impacts Diageo, Pernod, and threatens benefits of the India-UK deal.
Directly affected
- DEO Diageo+3.2%
Named in this report.
Indirectly affected
- XLE Energy Select Sector SPDR+3.8%
Energy prices move when sanctioned supply is blocked
- USO United States Oil Fund+4.9%
This fund moves with oil prices
- XOM Exxon Mobil+7.9%
Oil producers move when sanctioned barrels leave the market
- CVX Chevron+5.9%
Oil producers move when sanctioned barrels leave the market
- AAPL Apple+4.8%
Sales and supply chains are exposed to a new tariff
- NKE Nike+3.3%
Sales and supply chains are exposed to a new tariff
- SLB SLB-7.0%
Oilfield work in sanctioned regions can be cut off
- GLD SPDR Gold Shares-3.3%
Gold is a usual haven when a conflict or sanction escalates
- LMT Lockheed Martin+11.5%
Defense contractors get more work when conflict spending rises
- SPY SPDR S&P 500
The broad market moves when a major sanction lands
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| DEO | -1.56% | -3.31% | base | -0.19% | after close | after close | after close |
| XLE | +0.97% | +0.55% | base | +2.12% | after close | after close | after close |
| USO | -0.46% | -1.11% | base | +3.06% | after close | after close | after close |
| XOM | +0.46% | -0.17% | base | +1.94% | after close | after close | after close |
| CVX | -0.70% | -0.41% | base | +1.86% | after close | after close | after close |
| AAPL | -1.42% | -2.49% | base | -0.43% | after close | after close | after close |
| NKE | -3.09% | -1.10% | base | -2.35% | after close | after close | after close |
| SLB | -0.14% | +0.83% | base | +4.56% | after close | after close | after close |
| GLD | +3.51% | +2.33% | base | -0.47% | after close | after close | after close |
| LMT | -6.43% | -7.02% | base | +0.17% | after close | after close | after close |
| SPY | -0.09% | +0.66% | base | -0.53% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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India's Scotch Tariff Dispute: Impact on Diageo, Pernod, and UK Trade Global Banking & Finance Review
Source: Global Banking & Finance Review
This story
| Company | When | Move | Status |
|---|---|---|---|
| AAPL | that day | -0.43% | still updating |
| AAPL | three days earlier | -2.49% | final price |
| AAPL | five days earlier | -1.42% | final price |
| BA | that day | -1.28% | still updating |
| BA | three days earlier | +1.49% | final price |
| BA | five days earlier | +1.35% | final price |
| CVX | that day | +1.86% | still updating |
| CVX | three days earlier | -0.41% | final price |
| CVX | five days earlier | -0.70% | final price |
| DEO | that day | -0.19% | still updating |
| DEO | three days earlier | -3.31% | final price |
| DEO | five days earlier | -1.56% | final price |
| GD | that day | -1.13% | still updating |
| GD | three days earlier | -1.84% | final price |
| GD | five days earlier | -1.89% | final price |
| GLD | that day | -0.47% | still updating |
| GLD | three days earlier | +2.33% | final price |
| GLD | five days earlier | +3.51% | final price |
| ITA | that day | -1.96% | still updating |
| ITA | three days earlier | +0.79% | final price |
| ITA | five days earlier | +2.30% | final price |
| LMT | that day | +0.17% | still updating |
| LMT | three days earlier | -7.02% | final price |
| LMT | five days earlier | -6.43% | final price |
| NKE | that day | -2.35% | still updating |
| NKE | three days earlier | -1.10% | final price |
| NKE | five days earlier | -3.09% | final price |
| NOC | that day | -1.57% | still updating |
| NOC | three days earlier | -3.30% | final price |
| NOC | five days earlier | -5.86% | final price |
| RTX | that day | -2.06% | still updating |
| RTX | three days earlier | -0.66% | final price |
| RTX | five days earlier | -0.33% | final price |
| SLB | that day | +4.56% | still updating |
| SLB | three days earlier | +0.83% | final price |
| SLB | five days earlier | -0.14% | final price |
| SPY | that day | -0.53% | still updating |
| SPY | three days earlier | +0.66% | final price |
| SPY | five days earlier | -0.09% | final price |
| USO | that day | +3.06% | still updating |
| USO | three days earlier | -1.11% | final price |
| USO | five days earlier | -0.46% | final price |
| XLE | that day | +2.12% | still updating |
| XLE | three days earlier | +0.55% | final price |
| XLE | five days earlier | +0.97% | final price |
| XOM | that day | +1.94% | still updating |
| XOM | three days earlier | -0.17% | final price |
| XOM | five days earlier | +0.46% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Kevin Hern sold Diageo (DEO) (jointly held), worth $1,001 - $15,000 on 5 Aug 2026. That is 79 days before publication. Filed 10 Aug 2026. View the filing.
- Rep. Kevin Hern sold ExxonMobil Holdings (XOM) (jointly held), worth $100,001 - $250,000 on 31 Aug 2026. That is 53 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought ExxonMobil Holdings (XOM), worth $250,001 - $500,000 on 31 Jul 2026. That is 84 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Kevin Hern sold Chevron (CVX) (jointly held), worth $15,001 - $50,000 on 23 Sep 2026. That is 30 days before publication. Filed 13 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Chevron (CVX), worth $1,001 - $15,000 on 2 Sep 2026. That is 51 days before publication. Filed 7 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Chevron (CVX), worth $15,001 - $50,000 on 31 Jul 2026. That is 84 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Pete Sessions sold Apple (AAPL) (held by a spouse), worth $100,001 - $250,000 on 22 Sep 2026. That is 31 days before publication. Filed 22 Sep 2026. View the filing.
- Rep. Cleo Fields bought Apple (AAPL), worth $1,001 - $15,000 on 8 Sep 2026. That is 45 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Kevin Hern sold Apple (AAPL) (held by a dependent child), worth $1,001 - $15,000 on 8 Sep 2026. That is 45 days before publication. Filed 25 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 56 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 57 days before publication. Filed 10 Sep 2026. View the filing.
- Rep. Kevin Hern sold Nike (NKE), worth $1,001 - $15,000 on 13 Aug 2026. That is 71 days before publication. Filed 1 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
This story
12 out of 100Price not final
“India's Scotch Tariff Dispute: Impact on Diageo, Pernod, and UK Trade” scores 12 out of 100. The score uses 1 sources. The price is not final yet.