New US tariffs reshape global trade: What UK businesses need to know

24 July 2026

 

The United States has introduced a new round of tariffs affecting imports from around 60 trading partners, replacing the temporary tariff arrangements that expired this week. The measures, announced by President Donald Trump, impose duties of 10% and 12.5% on goods from a wide range of countries under Section 301 of the Trade Act of 1974.

Although the UK remains on the lower tariff tier and retains aspects of its existing trading arrangements with the US, the new measures are expected to have wider implications for international supply chains and global trade flows.

What does this mean for UK businesses?

While the UK's tariff position remains comparatively favourable, businesses trading with the United States should use this opportunity to review their customs, documentation and wider trade compliance procedures.

The UK–US Economic Prosperity Deal (EPD) also remains important. The deal introduced preferential arrangements for certain sectors, including reduced tariffs on UK automotive exports and aerospace products, alongside measures covering products such as beef and ethanol.

However, businesses should not assume that the EPD automatically exempts all UK-origin goods from the new Section 301 tariffs. The applicable treatment will depend on the product, its commodity classification, origin and whether it appears within one of the published exemption schedules.

The changes could also affect:

  • The landed cost and competitiveness of UK goods in the US.
  • Supply chains involving materials or components sourced from affected countries.
  • Contractual responsibility for paying additional customs duties.
  • The evidence requested by US customers and importers.
  • Sourcing decisions where comparable products face different tariff treatments.

The wider geopolitical implications

The latest announcement is the latest in a series of US trade policy measures that continue to reshape global trade relationships.

Several countries have criticised the new tariffs and are considering their response, while the US administration has indicated that further trade actions may follow, including additional duties linked to industrial overcapacity investigations.

For UK businesses, the immediate impact may be limited compared with some of the countries facing higher tariff rates. However, changes to tariff structures can influence global sourcing decisions, supply chains and the competitiveness of products in international markets.

Businesses exporting to the United States should therefore continue to monitor tariff developments and assess how evolving US trade policy could affect future trading conditions, customer demand and international supply chains.

How should businesses prepare?

While the UK's tariff position remains comparatively favourable, businesses trading with the United States should use this opportunity to review their wider customs and trade compliance procedures.

1. Confirm the correct commodity classification

Check that each product has the correct commodity classification. An incorrect code could result in the wrong duty treatment, customs delays or missed tariff exemptions.

2. Review the origin of your goods

Establish whether your products qualify as UK origin and ensure you have appropriate supporting evidence where origin may affect tariff treatment or customer requirements.

3. Check the applicable tariff treatment

Review whether your products are:

  • Subject to the new Section 301 tariffs.
  • Covered by an exemption.
  • Already subject to other US trade measures.
  • Eligible for preferential treatment under the UK–US Economic Prosperity Deal (EPD).

4. Review export documentation

Ensure that commercial invoices, packing lists, customs declarations and supporting documentation are accurate, with the evidence needed to claim any applicable tariff exemptions or preferential treatment.

5. Assess your supply chain

Consider whether imported components or materials sourced from countries affected by the new tariffs could increase production costs or alter the competitiveness of your finished products in the US market.

6. Review commercial agreements

Check your Incoterms®, contracts and pricing arrangements to understand who is responsible for import duties and whether additional costs can be recovered or shared.

7. Stay informed

US trade policy continues to evolve. Businesses should continue monitoring official announcements and review the impact of any future tariff measures on their exports, imports and international supply chains.

Although the UK remains in a comparatively favourable position, the latest announcement highlights how quickly international trading conditions can change. Businesses that understand the customs, documentary and compliance implications of new trade measures will be better placed to respond as global trade policy continues to evolve.

 

By Carla Assunção, Chamber International

 

Need support with US customs and trade compliance? Speak to our team.

Businesses trading with the United States may also be interested in our Shipping to and from the US online workshop on 1 September. Find out more and reserve your place.