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Heineken absorbing US tariff cost for now, CEO says
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Heineken absorbing US tariff cost for now, CEO says
Oct 23, 2025 10:14 AM

SEVILLE, Spain, Oct 23 (Reuters) - Heineken

for now has to take the hit of a 15% U.S. import tariff on its

European-made beers, CEO Dolf van den Brink told Reuters on

Thursday, hurting its profitability in one of the Dutch brewer's

key growth markets.

The world's No.2 brewer exports to the U.S. from Europe and

Mexico and any shift in production was "not imminent", Van den

Brink told Reuters on Thursday, having previously said the

company was weighing all options.

The CEO's comments followed an investor event in

Seville, Spain, where he also said it remained cheaper to export

beer from Europe than invest in U.S. production to avoid a 15%

tariff rate agreed between Brussels and Washington in July.

It also did not yet make financial sense to ramp up U.S.

production in Mexico as road transport costs meant paying the

tariff was still cheaper. The breakeven point where it would

make sense to pursue either option was some time away, though

the company consistently reviewed its options, he continued.

For now, Heineken's profitability was suffering as it could

not raise prices out of step with its competitors, who are

largely local and do not face the 15% additional charge, he

said.

Van den Brink also told Reuters there were "more than 10"

markets it was considering exiting, but that some or all of

these may be able to rectify underperformance before it comes to

that.

The company was unlikely to sell any brands in its portfolio

spanning hundreds, even as it focuses the majority of its

investment on just a handful, he added, though it may stop

investing in some older labels which would see them "start

fading away over time".

Heineken could also pursue more brewery closures in Europe

as it looks to cut costs, but it was not planning to radically

change its manufacturing footprint there, he said.

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