The uncertainties facing businesses and consumers after Trump's tariff changes
Businesses say questions remain after US President Donald Trump announced he will impose global tariffs of 15%.
Coverage by Political Leaning
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Notable Quotes
"There is a weariness about the constant changes, the lack of any clarity and certainty in terms of tariffs, and therefore the prices that companies can charge for the goods in terms of customers in the US."
— William Bain , Executive
"That again is going to be very much a fact of discouraging businesses from trading at the levels they have in in the US market."
— William Bain , Executive
"The added costs are generally borne by end users and consumers, contributing to higher prices and, ultimately, inflationary pressure."
— Tim Doggett , Executive
"That’s a big change in their cost of doing business."
— Chi Mac , Academic
"The tariffs are the greatest thing to happen to this country."
— Donald Trump , Politician
"pointless"
— Kush Desai , Executive
""There is a weariness about the constant changes, the lack of any clarity and certainty in terms of tariffs, and therefore the prices that companies can charge for the goods in terms of customers in the US.""
— William Bain , Executive
""That again is going to be very much a fact of discouraging businesses from trading at the levels they have in the US market.""
— William Bain , Executive
""The added costs are generally borne by end users and consumers, contributing to higher prices and, ultimately, inflationary pressure.""
— Tim Doggett , Executive
Key People
Chi Mac is the business research director of the JPMorganChase Institute.
Former president of the United States known for his aggressive economic policies.
Kush Desai is a spokesperson for the White House.
Chief North America economist at Capital Economics.
Tim Doggett is the chief executive of the Chemical Business Association.
Head of trade policy at the British Chambers of Commerce.
Tags
All Coverage
Businesses say questions remain after US President Donald Trump announced he will impose global tariffs of 15%.
A study by the JPMorganChase Institute revealed that tariffs paid by midsize U.S. businesses tripled over the past year, largely due to trade policies enacted by President Trump. These increased costs are affecting companies employing around 48 million people, forcing them to either raise prices, reduce staff, or accept lower profits.
The BCC estimates that the higher 15% tariff rate will increase tariff costs on UK goods exported to the US by between £2-3bn ($2.7-4bn). About 40,000 UK companies export to the US, Bain said, and that 5% increase in levies is paid either by the exporters or their customers in the US.
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