Import Duties: USA
The question
To ask the Secretary of State for Business and Trade, what guidance he provides to SMEs that face disruption as a result of changing tariff regimes.
Answered by Gareth Thomas
The Government is conscious that this is an anxious time for all businesses, not just those trading with the USA.
We have announced a range of measures to support SMEs dealing with cashflow difficulties linked to recent changes in global tariff rates, including an additional £500 million in lending capacity under the Growth Guarantee Scheme (GGS), delivered by the British Business Bank.
We are also expanding UKEF’s business support package by £20 billion, £10 billion of which will be used specifically for businesses impacted in the short term by the current US tariffs.
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