Reciprocal tariffs on US would 'wreck SMEs' plans'

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SMALL firms that import have warned that reciprocal tariffs on the US would “wreck” their business plans, says the Federation of Small Businesses (FSB) shows.

Research from the UK's largest business group ha shows how 1 in 3 (33%) would scale back orders if the UK Government strikes back and taxes goods imported by the US

This comes after President Donald Trump announcement last month a 10% tariffs on almost all UK goods last - although delayed for 90-days as part of range of tariffs on nations globally ~ alongside already in place 25% tariffs on steel and cars.

If reciprocal the FSB said that small importers will:

■Raise prices to cover higher costs (61%);