Global Tariffs and Reactions
The British Chambers of Commerce (BCC) warns that sweeping new US import tariffs are disrupting global trade and could hit UK companies. From mid-March the US imposed 25% duties on steel and aluminium imports (affecting goods from furniture to building supplies). In early April it added 25% levies on vehicle imports (raising car tariffs to 27.5%). On 5 April a 10% baseline tariff came into effect on most other imports. The BCC calls this the change “the biggest shift in global goods trade since 1947”.
China retaliated by imposing 125% duties on US exports, and the EU drew up a €21bn package of counter-tariffs (now paused pending negotiations). The BCC notes that these tit‑for‑tat measures have raised fears of supply‑chain disruption and trade diversion (for example, goods being rerouted to lower‑tariff markets).
Impact on UK Businesses
So far the UK has only faced the 10% baseline rate. Crucially, on 8 May the UK secured a deal with the US that lifted all 25% duties on UK steel and aluminium and cut auto tariffs to 10% (for up to 100,000 cars per year), while establishing reciprocal beef export quotas. Most other US tariffs remain in place. BCC research finds that 62% of UK firms trading with the US expect negative impacts from the tariff changes. Prime Minister Keir Starmer has urged calm and is seeking an “economic partnership” with the US to help mitigate the tariffs.
Government and Chamber Response
The UK government has bolstered business support. Its Growth Guarantee loan scheme now offers larger loans (up to £2m) to firms hit by these tariffs, and UK Export Finance has been raised from £60bn to £80bn (including £10bn to cushion US-tariff impacts). The BCC is pressing for further action, including negotiating closer trade deals with the EU, the CPTPP partners and the US. It also calls for tariff cuts and protections for key sectors – for example, renewing steel safeguard duties set to expire in 2026.
The BCC emphasises that chamber networks are ready to help members adapt. Its ChamberCustoms team offers guidance on the new tariff rules, commodity codes and rules of origin to help firms avoid unexpected duties. Local companies are advised to review their supply chains and seek support from trade advisors as needed.
You can contact them directly at teams@chambercustoms.co.uk
For more information, please visit https://www.britishchambers.org.uk/us-trade-tariffs-and-the-global-economy/
British Chambers of Commerce
The British Chambers of Commerce (BCC) sits at the heart of a business network that spans the length and breadth of the UK, with links to markets across the world.
