Welsh firms hit by global tariff changes, survey finds
However, the survey also points to signs of growth.
David Pena, director of international trade at Chambers Wales South East, South West and Mid, said: "It has been an unpredictable period for international trade, with ever-changing tariff decisions and trade talks progressing.
"Tariffs can act as a trade barrier to fostering long-term growth, and it is clear that the US' decisions have impacted businesses in Wales whether directly or through supply chains."
Nearly a third of businesses said export orders and advanced bookings increased in Q2, up from 25 per cent in Q1.
The report highlights the impact of US trade policy, including President Donald Trump's 'Liberation Day' announcement and new tariffs introduced in April.
Fifteen per cent of Welsh firms reported being affected by the 10 per cent US tariff on imports, while 23 per cent said their business or supply chain felt the effects of wider global tariffs.
Some firms said the tariffs had not impacted trade, but others reported a slowdown in US business, with fewer enquiries and orders.
Nearly a quarter said they would reconsider the country of origin for goods to avoid tariffs.
The survey also examined business conditions beyond trade.
Forty-four per cent of businesses attempted to recruit in the past three months, but two-thirds faced difficulties due to a lack of suitable candidates.
Gus Williams, interim CEO of Chambers Wales, said: "Despite a mixed picture in the world of international trade, it is heartening to see the positives in our survey results from increases in export orders to investment plans for training."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
36 minutes ago
- The Independent
Trump set to impose tariffs up to 70 percent on dozens of nations
President Donald Trump is set to resume tariffs of up to 70 percent on dozens of countries, as many of the trade deals have not materialized. Trump said the White House would be sending out about '10 or 12' letters on Friday to countries where trade deals are not yet in place ahead of the July 9 deadline. The president didn't specify which countries in his remarks to reporters Thursday evening. 'So we're going to start sending letters out to various countries starting tomorrow,' Trump told reporters at Andrews Air Force Base on returning from a rally in Iowa, according to The New York Times. 'They'll range in value from maybe 60 or 70 percent tariffs to 10 and 20 percent tariffs.' In April, Trump put a 90-day pause on the 'reciprocal' tariffs he announced on so-called 'Liberation Day' after the move spooked the stock market.
The Sun
an hour ago
- The Sun
Blow to Brits as tourist visa for US holidays to cost MUCH more
A TRIP to the USA is set to get more expensive for Brits. Thanks to a new bill being passed, the price of an ESTA is set to double from $21 (£15.38) to $40 (£29.30). 4 4 Before entering the US, Brits are required to apply for an Electronic System for Travel Authorization (ESTA). The fee is currently $21 (£15.38) to apply for an ESTA - a price which was introduced in May 2022. Prior to this date, the fee was $14 (£10.25) and will now rise to $40 (£29.30) although an official start date is yet to be confirmed. The rise in fees is part of US President Donald Trump 's "One Big Beautiful Bill". The current rules require every visitor from the UK to apply for an ESTA to be allowed access into the United States. An ESTA is generally valid for two years from the date of approval, or until the passport used for the application expires, whichever comes first. If your passport expires before the two-year period, your ESTA will be valid only until the passport's expiration date. You'll need to apply for a new ESTA if you get a new passport or if your current ESTA expires. US Travel's President and CEO Geoff Freeman fears the increased fees will "do nothing to improve the travel experience and only discourage visitation.' I travelled to America to try the viral TikTok shop Crumbl 4 America isn't the only place increasing fees for a visa. The EU is gearing up to introduce the new European Travel Information and Authorisation System (ETIAS) scheme next year. This swiftly follows the introduction of the new Entry/Exit system. ETIAS will be a requirement for any non-EU national from a visa-exempt countries, including the UK, for short-term stays in the Schengen Area. And the online fee to enter the ETIAS scheme could be more than initially planned. Current plans for travellers heading from outside the bloc include them paying €7 (£6.04) as part of an online application. However, now the European Union is looking to raise that price, even though the scheme hasn't launched yet. For anyone heading to America, here are the latest travel tips. And here are 12 bizarre things one Sun Travel Writer discovered when she lived in the US for 3 months. 4
Reuters
2 hours ago
- Reuters
Rupee ends week little changed, looming tariff deadline in focus
MUMBAI, July 04 (Reuters) - The Indian rupee witnessed muted price action on Friday to end the week little changed as traders awaited developments in U.S.-India trade talks, with a positive outcome potentially helping the local currency break past a sticky resistance level. The rupee closed at 85.3925, down about 0.1% each on the week and day. The currency had risen to a one-month peak of 85.25 in the previous session but pared gains on Friday after traders scaled back wagers on rate cuts by the Federal Reserve following a stronger-than-expected U.S. labour market report. On the day, routine dollar demand from importers weighed on the rupee with market participants also avoiding aggressive bullish wagers on the local currency to limit carrying risk over the weekend, a trader at a foreign bank said. While the rupee has persistently failed to rise and hold above a technical resistance level around 85.35-85.40 over recent sessions, a favourable trade deal with the U.S. may help the currency clear the hurdle, the trader added. U.S. President Donald Trump has said that Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States. "If Trump's comments prove accurate, then investors will again begin to downgrade growth expectations and upgrade inflation expectations, which will only encourage further dollar selling," MUFG said in a note, referring to the letters. Earlier in the week, Trump announced a deal with Vietnam, and the White House teased a forthcoming agreement with India. Meanwhile, talks with Japan - the U.S.' closest ally in Asia - have appeared to hit road blocks. Amid the ongoing uncertainty, analysts have pointed out that India's climbing foreign exchange reserves and the central bank's shrinking forward book are cementing the rupee's defences.
