A snap poll of more than 600 businesses by the British Chambers of Commerce (BCC) has revealed that 62% of UK firms with trade exposure to the US expect to take a hit from the tariffs. Looking at the breakdown, 20% report a significant negative impact, 42% report some negative impact, 16% report no impact, 5% report some positive impact, and 2% report significant positive impact. 44% of firms with exposure to the USA say the UK should seek to negotiate a closer trade relationship with the USA, and 43% want closer trade with other markets. The survey also showed that 40% of firms considered the 10% tariff to be better than they had been expecting. Alongside increasing prices, 15% said they would seek alternative suppliers, while 13% said they expected to absorb the costs. Around a third (36%) said they would take no action at this time. To read the BCC’s news release, go to https://www.britishchambers.org.uk/news/2025/04/extent-of-us-tariff-impact-revealed/.