Top UK business groups caution against global economic disruption following the US's blanket 10% tariff on UK exports.

Leading business associations in the UK have issued dire warnings about the impact on the world economy following the US announcement of an extensive 10% tariff on all UK exports, with even higher rates applied to goods from other nations.

The British Chambers of Commerce's director general, Shevaun Haviland, warned that the tariffs would cause major repercussions for UK businesses and disruptions to the world economy. She urged the UK government to continue talks with the US and take a methodical approach, saying that this is a marathon, not a sprint.

She urged ministers to take into account all of the available fiscal choices, pointing to the close economic linkages between the US and the UK, which include £700 billion in US investment in the UK, £500 billion in UK investment in the US, and £300 billion in bilateral trade. She stated that retaliatory tariffs ought to be reserved for extreme circumstances.

The CEO of the Confederation of British Industry, Rain Newton-Smith, expressed similar worries about the tariffs' potential effects on the world economy. According to her, business has made it apparent that there are no victors in a trade war. The announcements made today are extremely concerning and will have a big impact globally.

Newton-Smith emphasized the significance of fortifying economic relations with like-minded allies and acknowledged the UK's attempts to negotiate a bilateral agreement with the US. According to her, the UK needs to strengthen its commitment to free, fair, and open trade during this uncertain time. Businesses will gain the confidence they need to spur innovation, accelerate growth, and increase productivity if this is done.