Trump’s tariffs – East Midlands business leaders react
Business leaders from across the East Midlands have been reacting to Donald Trump’s global trade war, announced yesterday evening (April 2) by the US President.
Trump announced a worldwide series of tariffs on trading partners, with some predicting a downturn in growth for an already sluggish UK economy.
Claire Ward, Mayor of the East Midlands has urged businesses to get in touch with her if they’re worried about how imports or exports will be affected.
She said: “The British Government is in dialogue with the United States Government and is committed to using those links to secure the best possible outcomes for business. This notwithstanding, I understand the impact of both the uncertainty and the proposed tariffs, and I want to make sure I am conveying the reality of this to Government.
“If you import or export, or rely on a supply chain with the EU, new tariffs being introduced by the US Government may impact your business. If your business is affected or you’re worried about the impact, let me know.
“I’m working with Ministers in the Government to understand the full picture so we can look at what support our region may need.”
Meanwhile, East Midlands Chamber has given its reaction to Trump’s “Liberation Day” tariffs, as named by the White House, on items brought into the US.
East Midlands Chamber Head of International Trade Lucy Granger said: “Ultimately the duties that President Trump is imposing will affect businesses in America as well as elsewhere, including the UK. It will make their imported goods cost more. However, that can have a negative impact on UK businesses as it makes their products harder to sell in that market by essentially increasing the cost.
“For exporters, this comes at a critical time, only days after the arrival of new tax burdens, which our members tell us will protract and stifle investment and the creation of new jobs.
“The UK government needs to continue conversations with the US at pace. They need to make sure they’re getting the best for businesses within the East Midlands and the UK, so that the US is a viable market that we can continue to trade with.”
