Three-quarters of UK manufacturing and logistics firms expect to be affected by new US import tariffs, with many delaying investment plans, according to a survey by HSBC UK.
President Trump’s sweeping tariff regime, which includes a 10% levy on most imports and 25% on key goods such as steel and cars, has prompted concern among British businesses.
Larger firms appear most exposed, with 79% of those employing over 250 staff anticipating a negative impact.
HSBC’s survey of 2,000 business leaders found that one in five have already paused investment decisions.
While 14% have adjusted supply chains and 12% expanded into new markets, HSBC’s Stephanie Betant said most firms were “scenario planning” to manage the uncertainty. Services, she added, remain relatively insulated.