Appetite for transatlantic trade remains strong despite Trump tariffs - Chamber

UK and US businesses will do their utmost to maintain strong trading relationships despite new tariffs imposed by Donald Trump, business leaders said today.

Trump this week announced 25 per cent tariffs on UK steel and aluminium exports to the United States.

The EU and Canada have already hit back at the US with counter tariffs on American goods, escalating a global trade war.

However, Prime Minister Sir Keir Starmer hinted at a more “pragmatic” approach from the UK following his productive meeting with Trump in Washington DC earlier this month.

Greater Birmingham business leaders said the tariffs are a setback for UK companies but do not signal the end of the road for negotiations with the US.  

Raj Kandola, director of external affairs at Greater Birmingham Chambers of Commerce, said: “Products made with UK steel and aluminium play an important part in many supply chains in the US.

“Both sides will now be facing up to negotiations on how the burden of these new tariffs will affect businesses in both countries. 

“Despite this action, commercial, investment and trading relationships between UK and US remain strong. 

“Tariffs mean prices and costs will inevitably go up and this is a lose-lose scenario for consumers, businesses, and economic growth.

“However, this setback does not mean we have reached the end of the road in terms of negotiations. Tariffs can be lifted at any time. 

“UK firms will want to keep trading with their customers and clients in the US and vice versa.

“We will continue to support Greater Birmingham businesses who are impacted by these tariffs – or are seeking advice on global trade in general – through our international services, including our dedicated Transatlantic and Global Chambers and our export support programme.”