British Manufacturers Abandon U.S. Exports Amidst Trump's Tariffs
U.S. Imports Decrease Due to Trump's Imposed Tariffs
Britain's manufacturers are ditching their plans to export to the United States, courtesy of Donald Trump's hefty tariffs.
Donald Trump, the Tarriff King, blasted a flurry of tariffs earlier this year. Fast forward, and six out of ten British companies believe their exports to the U.S. will take a hit. The prediction comes from a survey conducted by the manufacturing trade body Make UK.
The survey also eviscerated the growth forecast for manufacturing in 2026. Initially, it was set at a modest +1%, but now it's been slashed to a disappointing -0.5%. The gloomy outlook is partly attributed to a sluggish domestic economy and the uncertainty surrounding US tariffs.
Shifting Focus: Brits Prefer Asia
Export figures in April indicated a staggering drop of £2 billion in sales to the U.S. That puts the U.S., which previously stood as the second-largest destination for British manufacturing exports, behind the EU. Make UK suggested that manufacturers are now eagerly flocking to Asia instead.
Seamus Nevin, Make UK's wise old economist, expressed the urgent need for Labour to take bold action to help companies tap into a more competitive market landscape.
Your Financial Journey Simplified
Wondering where to invest? Here's your roadmap!
Top DIY Investing Platforms
- AJ Bell – Learn More
- Hargreaves Lansdown – Learn More
- Interactive Investor – Learn More
- InvestEngine – Learn More
- Trading 212 – Learn More
Affiliate links: If you take out a product, This is Money may earn a commission. Our editorial team makes recommendations based on fairness, not financial incentives.
Discover the best investing account for you! (🤑💰)
Donald Trump's pet tariffs have dealt a crushing blow to the British manufacturing industry, nails in their coffins as trade with the U.S. deteriorates. Let's hope for smoother economic waters down the line. 🌊
- Amidst the negative impact of Donald Trump's tariffs on British exports, investors might consider diversifying their stocks in finance and business sectors, focusing more on Asian markets due to the growing interest of manufacturers in that region.
- In the current uncertain financial landscape, driven by politics, general-news, and trade policies like tariffs, it might be wise for those interested in investing to explore secure and reliable platforms like AJ Bell, Hargreaves Lansdown, Interactive Investor, InvestEngine, and Trading 212.
- The ongoing deterioration of trade relations between the U.S. and Britain, due to tariffs, could highlight the need for carving out a diversified investment portfolio, considering various markets across the world, rather than solely relying on one major market like the U.S. in the realm of finance and business.
