Gooch & Housego PLC (AIM:GHH), a UK maker of fibre optics, lasers and lenses for aerospace and medical sectors, said it has begun "actively re-sourcing" its supply of raw materials from different countries as nations react to the new US tariffs.
A trading statement from the Somerset-based company on Tuesday provided an example of how companies are already having to cope with a new trade landscape in the wake of the US tariffs.
It said the availability of some raw materials has been restricted by some nations retaliating against the newly imposed US tariffs, but highlighted that it could potentially benefit from its manufacturing presence in the US.
Last week the US imposed 10% tariffs on all imports from around the world, with higher rates for certain countries, such as up to 54% on many goods from China, which has since responded with its own 34% tariff on the US amid an escalating series of trade threats between the two countries.
Gooch & Housego said the net impact of the changes was hard to assess at this stage, but it assured investors that direct exposure to countries hit by the highest US tariff increases "is limited" but more general inflationary impacts of increased global tariffs and possible indirect effects would be monitored.
It intends to pass on the higher costs from re-sourcing supplies of raw materials through higher pricing.
"Given the group's considerable US-based manufacturing presence, the new tariffs could over time be a benefit to some parts of our business against their non-US competitors," it said.
The company reported revenue of £70.8 million for the six months to end March, a 7.5% increase on an organic constant currency basis.
Its shares jumped 8% to 399.5p, having recently fallen to the lowest in over a decade.