Firms taking early action as they brace for impact from tariffs

MORE than three-quarters of UK businesses are worried about tariffs and global trade uncertainty and have already taken pre-emptive measures to offset disruption, according to a new survey.

- By HOLLY WILLIAMS

The latest Barclays business prosperity report found that 79% of firms are concerned about the mounting global trade war sparked by US President Donald Trump's move to hike tariffs.

The poll of 1,000 micro, small and larger firms - which was conducted last month - revealed that nearly half (48%) have already begun changing their US operations or supply chains to help offset any possible hit.

It showed that 14% have already scaled back investment in the US market, with 15% pausing or cutting spend in America.