Import Duties: USA
The question
To ask the Secretary of State for Business and Trade, what steps he is taking to provide support to business to reassess their supply chain strategies following the introduction of new tariffs to existing supply chains in Fylde constituency.
Answered by Gareth Thomas
We will continue our work with businesses in the North-West and across the country to understand their assessment of the impact of US tariffs on their operations. On 8 May we concluded a landmark economic deal with the US, which cuts tariffs for UK industry and cuts costs for businesses.
What we have agreed will provide the foundation for a new reciprocal trading partnership between the US and the UK, protecting businesses and jobs across the country. We are continuing talks on a wider UK-US Economic Deal which will look at increasing digital trade, enhancing access for our world-leading services industries and improving supply chains.
The Government has announced a range of measures to support SMEs, including access to additional finance through the British Business Bank and sector specific measures.
We are also expanding UKEF’s business support package by £20 billion, with £10 billion specifically aimed at businesses impacted by the current US tariffs.
Any business which is concerned about what tariff changes mean for them can find clear guidance and support on great.gov.uk.
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