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British firms shrug off US tariffs, BoE survey shows
Published by Global Banking & Finance Review®
Posted on June 5, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 5, 2025
1 min readLast updated: January 23, 2026
A BoE survey shows most UK firms are unaffected by US tariffs, with only 12% citing it as a major concern. 70% expect no impact on sales or investments.
LONDON (Reuters) -Few British businesses expect to be directly affected by recent changes in U.S. trade policy, with only 12% naming it as one of their top three sources of uncertainty, a Bank of England survey showed on Thursday.
The BoE said 70% of businesses surveyed in May expected that U.S. tariffs would have no impact on their sales, prices or investment plans.
Twenty-two percent expected sales to fall over the year ahead, 20% said they would invest less, 15% expected to lower prices and 7% expected to raise prices, the BoE said.
The survey took place from May 9-23 and covered 2,129 firms.
(Reporting by David Milliken; editing by William James)
According to the Bank of England survey, 70% of businesses surveyed expected that U.S. tariffs would have no impact on their sales, prices, or investment plans.
Only 12% of British businesses named changes in U.S. trade policy as one of their top three sources of uncertainty.
The survey took place from May 9-23 and covered 2,129 firms.
Fifteen percent of businesses surveyed expected to lower prices in response to the tariffs.
The overall sentiment among UK businesses is one of resilience, with many not anticipating significant effects from the new U.S. tariffs.
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