PepsiCo on Thursday cut its annual profit forecast as the soda and snacks giant signaled higher production costs and subdued consumer spending due to the uncertainty fueled by U.S. President Donald Trump's expansive tariffs.

PepsiCo lowered its full-year earnings expectations Thursday, citing increased costs from tariffs and a pullback in consumer spending

The maker of Cheetos and Mountain Dew also cited a drop in consumer confidence caused by inflation and the global trade war.