"The latest Office for National Statistics (ONS) Business Insights Survey reveals that 82% of the UK's transportation & storage sector businesses (the category that includes logistics, parcels, haulage and warehousing firms) say that the new US trade tariffs had no impact on their business during September. Only 3.4% of transport & storage sector companies report that they experienced extra costs because of the tariffs, compared to 6.3% of UK retailers and a significant 11.5% of UK manufacturers."
"'Other industry sectors have had to respond in different ways to the introduction of the new tariffs. For example, 3.9% of UK retailers and a hefty 8.6% of manufacturers reported that they had passed on the impact of the new tariffs to their customers - presumably those based in the US. However, 0% of transport & storage sector firms who responded said that they had taken this measure.'"
The ONS Business Insights Survey found 82% of UK transportation & storage businesses reported no impact from the new US trade tariffs in September. Only 3.4% of transport & storage firms experienced extra costs, compared with 6.3% of retailers and 11.5% of manufacturers. The US introduced new tariffs beginning 2 April and ended the de minimis exemption for low-value goods on 29 August. Goods valued at $800 or less had previously entered the US duty free. Some retailers (3.9%) and manufacturers (8.6%) passed tariff costs to customers, while no transport & storage respondents reported doing so.
#us-trade-tariffs #transportation--storage-sector #ons-business-insights-survey #de-minimis-exemption
Read at London Business News | Londonlovesbusiness.com
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