Chamber briefing paper assesses impact of US tariffs on business

Greater Birmingham Chambers of Commerce has released a briefing paper to help its members digest the impact of new tariffs imposed on goods imported to the US.

President Donald Trump last week announced a string of tariffs on overseas imports, including 10 per cent on goods from the UK.

And a blanket 25 per cent was imposed on cars imported to the US from overseas, in a blow to the automotive industry.

As a result, West Midlands-headquartered Jaguar Land Rover announced a pause on shipping vehicles to the US.

The briefing paper from the GBCC’s policy team provides a detailed breakdown of the tariffs, while signposting local firms to the latest advice.

A snap poll by the British Chambers of Commerce revealed 62 per cent of UK firms with trade exposure to the USA say they will be negatively impacted by Trump’s tariffs, while 32 per cent said they will increase prices as a result.

Forty-four per cent believe the UK should seek to negotiate a closer trade relationship with the USA - and 43 per cent want closer trade with other markets.

Just under a quarter (21 per cent) think the UK should impose retaliatory tariffs. 

Gemma Dilkes, policy and projects officer at Greater Birmingham Chambers of Commerce (pictured), said: “These new US tariffs will be difficult for many local exporters to digest, but the Chambers remain committed to supporting local businesses through this period of uncertainty. 

“We encourage the Government to continue pursuing diplomatic solutions, push for industry concessions, and reach a mutually beneficial Free Trade Agreement with the US.

“Specifically, we need to reach a Free Trade Agreement that is comprehensive in scope, protects high regulatory standards, addresses non-tariff barriers and facilitates smoother market access for SMEs.”

Chamber members can log in to the Business Growth Studio to read the briefing paper and find out more about what the US tariffs mean for Greater Birmingham businesses.