Alison Lea-Wilson, co-founder of Halen Môn, expressed her concerns about the potential impact of the new tariffs imposed by President Donald Trump on all imports to the United States. The Anglesey-based company has been exporting salt to the US since 2000, but Lea-Wilson revealed that their products already cost significantly more in the US compared to the UK. She conveyed her worries during an interview with BBC Radio Wales Breakfast, explaining that the additional 10% tariff could severely affect their business as their salt goes through multiple intermediaries before reaching the American consumer.
President Trump’s decision to implement a 10% tariff on imports from the UK and other countries starting from April 5th was justified as a measure to safeguard American jobs and manufacturing. However, the potential consequences extend beyond just the companies importing goods to the US, as consumers may also bear the brunt through higher prices on shelves. The announcement of these tariffs stirred alarm within Halen Môn, with their distributor exploring legal avenues to support the business in light of the challenging circumstances.
The impact of the tariffs reverberates not only in Wales but also across the United Kingdom, particularly in the automotive and steel industries. Welsh businesses exporting to the US are bracing for increased costs resulting from the tariff structure. The uncertainty stemming from these developments is expected to dampen business investment decisions, according to Prof Max Munday from Cardiff University’s Business School. While the Welsh government is liaising with UK counterparts and industry stakeholders to address the potential fallout, there is a shared sense of apprehension regarding the implications of these tariffs on businesses in the region.
Despite the widespread concern surrounding the new tariffs, some companies like Newport-based Tomoe Valve remain cautiously optimistic. Denise Cole, the financial director, acknowledged the rationale behind President Trump’s protectionist measures, citing the need to safeguard domestic manufacturing interests. While uncertainty looms over the economic landscape, Cole remains confident in the demand for their specialist products, anticipating minimal negative impact from the tariffs. She highlighted other government policies, such as increased National Insurance Contributions, as more immediate concerns affecting their business operations
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