Import Duties: USA
The question
To ask the Secretary of State for Business and Trade, whether he is taking steps to provide financial support to British SMEs relocating manufacturing out of China to avoid newly introduced tariffs.
Answered by Gareth Thomas
There are no current plans to support businesses with relocating their production out of China specifically. However, the Government-backed British Business Bank helps businesses to access the finance they need to invest and grow, including to relocate parts or all of their business.
UK Export Finance can help SMEs win contracts by providing attractive financing terms to buyers, support working capital loans to take on and fulfil orders effectively, and make sure SMEs get paid by offering Government-backed insurance against buyer default.
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