If your business trades with the United States – whether importing components or exporting finished goods. You’ll want to pay close attention to the latest changes in U.S. trade policy. Several new tariffs have recently been implemented, and they could directly affect your costs, margins, and supply chain strategy.
Here’s a breakdown from the Accountants247 Glasgow South team of what’s happening, what it means for you, and how we recommend UK small and medium-sized businesses respond.
Summary of Key U.S. Tariff Changes (as of mid-2025)
- Universal 10% import tariff on all goods entering the U.S.
(Effective April 2025) - Increased tariffs on steel, aluminium, and copper — now up to 50%.
Particularly relevant if you’re exporting products containing these materials. - Automotive & parts tariffs at 25% – affecting vehicles and components.
(Even if manufactured outside the U.S.) - Tariffs on goods from India, China, and other nations raised to 50%, which could affect UK businesses using global supply chains.
- End of the de minimis exemption – previously allowed parcels under $800 to enter the U.S. duty-free. Now, all shipments are subject to duties, regardless of value.
Why This Matters for UK Businesses
Even though the UK is not directly targeted by the most punitive U.S. tariffs, indirect impacts are real:
- Higher costs if you rely on global supply chains (especially India, China, or Mexico).
- More expensive exports to the U.S. – depending on what materials your products include.
- Increased admin and customs compliance – especially for low-value exports now subject to duties.
- Competitiveness risk if you’re up against U.S. or tariff-exempt suppliers.
What You Can Do Now
As your accountant, here are steps we recommend to prepare and protect your business:
1. Review Your U.S. Trade Exposure
- Are you exporting to the U.S.? Check whether your goods now fall under new tariffs or stricter customs scrutiny.
- Are you importing from non-UK/EU suppliers for U.S.-bound products? You could be indirectly exposed to new duties.
2. Audit Your Supply Chain
- Look for ways to diversify or near-shore supply to avoid tariff-heavy countries.
- Ask suppliers for a breakdown of materials and country of origin—some cost increases might not be obvious at first glance.
3. Review Pricing & Margins
- If exporting, consider how new duties might affect your competitiveness or pricing in the U.S. market.
- Use this as an opportunity to reassess contracts and factor in cost escalations.
4. Watch for Retaliation or UK Policy Shifts
- Trade tensions can escalate quickly. Keep an eye on potential UK government responses, which could create new opportunities—or further complications.
5. Talk to Us
Accountants247 Glasgow South can help you:
- Forecast the financial impact of tariff changes.
- Model new pricing strategies.
- Navigate customs classification, HS codes, and export declarations.
Common Sectors at Risk
These UK sectors may be especially exposed:
- Manufacturing and engineering (steel, components, machinery)
- Home goods and furniture
- Craft and design exports (especially if metals or packaging are sourced globally)
- Electronics and tech components
- Automotive suppliers
Tariffs may feel like something that only affects big importers and exporters but they increasingly touch small and medium-sized businesses too. Whether you sell handcrafted goods to U.S. customers or rely on globally sourced parts, these changes matter.
If you’d like to review your risk or spot any opportunities from the shifts we’re here to help. Contact our friendly Glasgow-based team here.