Third of UK entrepreneurs fear Trump's proposed tariffs will hit business costs

A recent survey by Helm found that 37% of UK entrepreneurs are anxious about Donald Trump's proposed tariffs impacting their operations. The US represents 22% of UK exports, making it a key market. Despite this concern, 63% of entrepreneurs remain unconcerned, attributing it to the tariffs mainly affecting goods rather than services. Entrepreneurs express divided opinions, with some viewing potential opportunities amidst the uncertainties. Concerns linger over rising costs, while others argue for adaptive strategies to cope with shifts.

"While some fear rising costs and supply chain disruptions, others see potential opportunities as trade routes shift. The resilience and adaptability of UK entrepreneurs will be crucial in navigating these uncertainties."

"Canada and Mexico have learned to manage these threats. Since services are excluded from the tariffs, we're confident they won't affect us directly, though the broader economic impact is still a concern."

"If the UK and EU followed suit [removing the de minimis threshold], it could boost local e-commerce and protect consumers from unsafe imports."

Read at Business Matters