Chamber’s Response to New US Tariff Announcement
Date published:
John McCabe, CEO at the North East Chamber of Commerce, said:
“The 10% tariff imposed on UK goods and services is at the lower end of the very long list President Trump presented last night, and we expect this to be the ceiling for the UK. We know this is a President who can very suddenly change course, especially when it comes to trade policy, so this is a time for cool heads and a measured response from government and business.
“The North East has around 4,000 exporters with trade worth around £2bn with the USA. Alongside other significant markets, such as the EU, these new terms will reset global trade. The exact shape of this new landscape will become clearer in the weeks and months ahead. This is why it’s vital that the government, its diplomats and trade negotiators work hard for the best deal for UK firms and businesses right here in the North East.
“Trade is the backbone of the North East economy. From pharmaceuticals and cars to services such as legal and tech, we are good at this and the world wants what we have to offer. Today’s announcement starts a conversation rather than ends one, and we’ll be working very closely with our members here in the North East, as well as our partners across the worldwide British Chambers of Commerce network, to make sure their voices and views are heard loud and clear.”