How will the rise in US Steel tariffs impact the UK business market?

The new 25% U.S. steel and aluminium tariffs, effective March 12, could significantly impact businesses by increasing costs for construction, manufacturing, and supply chains.

To navigate these challenges, businesses can adopt the following strategies:  

Diversify Suppliers: Source materials from domestic or tariff-exempt markets to reduce reliance on imports. By focussing on imports from countries not subject to prohibitive tariffs thus reducing the risk of over-reliance on one source of supply.  Understanding and leveraging on free-trade agreements can lead to significant cost savings. 

Optimise Operations: Streamline processes and improve efficiency to offset rising costs. 

Renegotiate Contracts: Work with suppliers and customers to adjust pricing or terms to share the burden. 

Proactive planning is essential to stay competitive in the current trade landscape!  

Contact us to discuss which strategies would be most suited to your business operations today on 0808 172 93 22 or complete our quick contact form for a no obligation discussion!

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This update is for general guidance only and advice should be taken in relation to a particular set of circumstances.