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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
UK entrepreneurs have raised concerns about the impact of Washington’s trade tariffs on their profits, with some indicating they may cease operations in the US, according to a survey by entrepreneur network Helm.
The survey revealed that 64% of respondents believe President Donald Trump’s tariffs will affect their bottom line, with 20% considering reducing or stopping operations in the US. Supply chain costs, direct product exports, and distribution partnerships were cited as major concerns in the changing trade landscape.
Andreas Adamides, CEO of Helm, noted that the tariffs could have far-reaching effects on UK entrepreneurs, with some choosing to explore new markets or adjust their strategies.
A separate survey by HSBC found that 66% of UK companies anticipate some impact from the tariffs, with small businesses likely to be hit hardest.
Tina McKenzie of the Federation of Small Businesses emphasized the importance of promoting free trade to support small firms during uncertain times.
Mike Banister, CEO of Hunter Luxury, highlighted the disruptions caused by the tariffs on international shipping and production, leading to a reassessment of future plans.
Despite the challenges, some entrepreneurs are exploring alternative markets and mitigation strategies to navigate the uncertainty caused by the tariffs.
Businesses are closely monitoring developments, such as potential exemptions for certain industries, and the ongoing discussions regarding a UK-US trade deal.