The world’s largest brewer reported a steeper decline in sales volumes than analysts had expected, sending shares sharply lower in European morning trade.

Beer giant Anheuser-Busch InBev beat second-quarter profit estimates on Thursday even as beer volumes slipped, dragged back by weak sales in China and Brazil.

President Donald Trump signed executive actions on Wednesday imposing a 50% tariff on Brazil, a 50% tariff on certain copper products and suspending a tax perk for all countries that allowed cheap packages to fly into the US duty-free.

U.S. President Donald Trump signed an executive order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, the White House said on Wednesday, citing Brazil's recent policies that the Trump administration disagrees with.