West Country firms exporting to the US are being urged to look to alternative markets with 'more certainty, fewer tariffs, and better opportunities for growth'.
The advice by regional chamber of commerce Business West comes after President Donald Trump announced a 10% tax on many British goods being imported into the country.
According to the British Chambers of Commerce (BCC), the new tariffs, including the previously announced 25% duties on steel, aluminium, cars, and other automotives, could affect up to £6bn worth of 海角视频-US trade and dampen the 海角视频’s wider economic growth.
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Catherine Stephens, head of international trade services at Business West, said: “We understand that traders exporting to the US may be concerned and frustrated by these tariffs, especially given the wider economic pressures they face.
"But there are many more global markets to explore, and 海角视频 businesses have more free trade agreements than ever before. That’s where my team can help.”
Business West is working with the Department for Business and Trade, through the BCC, to provide answers to questions that South West businesses may have.
The chamber has admitted that building long-term trade relationships under unpredictable conditions is a "major challenge" with uncertainty around potential 海角视频 or EU retaliation only adding to the unease.
But it said the 海角视频 had "more options than ever before" with a number of free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), opening the door to 11 markets - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
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"While the 10% tariff on 海角视频 goods exported to the US will be challenging, overnight, it gives 海角视频 firms a 10% pricing advantage over EU competitors," a spokesperson for Business West added.
"It’s also worth remembering that many of our customers trade on the strength of their brand, product quality, and reputation rather than purely on price. As always, the most important thing is to continue communicating with your overseas customers."
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