A 10% tariff will hurt UK businesses exporting to the US – but it could have been worse.
Still, some are seeing possible upsides.
I’ve been speaking to a UK electric motorbike manufacturer. The US is a growing market for him, and with his bikes seen as luxury items, he’s understandably worried.
But with Chinese rivals now facing a 34% tariff, his prices suddenly look more competitive.
A chemicals firm also tells me he’s lost some US business to companies in China and India over the years. With both countries now facing higher tariffs than the UK, he’s hoping American customers might take another look at his products.
But he’s also cautious. If Chinese and Indian goods become harder to sell in the US, they could be diverted to the UK – undercutting his business here.
That might be good news for UK buyers, but not for him.
