UK Entrepreneurs Divided Over Potential Impact of Trump’s Trade Tariffs

More than a third of UK entrepreneurs are concerned about the financial impact of Donald Trump’s proposed trade tariffs, according to a recent survey by entrepreneur network Helm.

The poll, conducted between 10 and 11 February among Helm’s 400 members, found that 37% of respondents fear the tariffs could add “significant costs” to their businesses. With the US accounting for 22% of total UK exports, the country remains a vital trade partner for British firms.

However, since Trump’s proposed tariffs mainly target goods rather than services, a majority (63%) of Helm members remain unconcerned. Many believe Trump’s trade threats are a negotiating tactic, while others say their businesses—primarily service-based or focused outside the US—will not be directly affected.

Mixed Reactions from UK Business Leaders

Andreas Adamides, CEO of Helm, acknowledged the divide among British entrepreneurs.

“While some fear rising costs and supply chain disruptions, others see potential opportunities as trade routes shift,” he said. “The resilience and adaptability of UK entrepreneurs will be crucial in navigating these uncertainties.”

Syd Nadim, founder of digital firm Clock, which generates 40% of its revenue from the US, played down the concerns, calling Trump’s rhetoric “mostly bluff and bluster.”

“Canada and Mexico have learned to manage these threats,” Nadim said. “Since services are excluded from the tariffs, we’re confident they won’t affect us directly, though the broader economic impact is still a concern.”

Concerns Over Supply Chains and Costs

Not all business leaders are optimistic. Harry Zalk, co-CEO of infrastructure firm Matrix Group, warned that the tariffs could “significantly increase costs for our imports and exports.”

Similarly, Tobi Schneidler, founder of computer accessories brand Bouncepad, said the proposed tariffs could make US exports even tougher, adding to the existing challenges posed by Brexit.

Meanwhile, Maz Darvish, CEO of AI firm Cognition Hub, highlighted another key issue: the possible removal of the de minimis threshold, which currently allows imports below $800 to enter the US duty-free.

“If the UK and EU followed suit, it could boost local e-commerce and protect consumers from unsafe imports,” Darvish said.

Navigating Uncertainty

With Trump’s trade policies still in flux, UK entrepreneurs are watching closely to assess the potential impact. Whether the proposed tariffs become a reality or remain a political bargaining tool, British businesses will need to stay agile in an increasingly uncertain global trade environment.