Navigating the Trump Tariffs
How British Businesses Can Adapt to Uncertainty
The last week has certainly been a rollercoaster after President Donald Trump thrust global trade into uncertainty with sweeping tariffs across all of America’s trading partners. Stock markets plunged and then recovered a little as Trump pulled back, hitting the pause button on the tariff levels above his base 10% tariff in all markets except China. Other markets such as the EU are now stepping back from retaliatory tariffs hopefully continuing to calm investor and business nerves.
By the time you read this, the situation may have shifted yet again – such is the pace of change today.
Business is inherently uncertain, but major political shifts amplify this, affecting everything from demand to borrowing costs, making strategic planning especially difficult. In times like these, boardrooms often get caught in a cycle of endless internal meetings, analysing potential impacts and scenarios. While these can be, and often are, valuable, they should not come at the expense of a business’s most critical priority: the customer.
Business is always uncertain but large political moves like this impact everything from demand to borrowing costs, making planning really challenging. In boardrooms at times like these, it is easy to be pulled into internal meeting after internal meeting, planning the various impacts and possible scenarios. Of course, these meetings can be, and are, important but not at the expense of a key element of businesses, the customer.
As the situation hopefully settles, business leaders will be able to spend time thinking about bigger strategic issues. For now, however, their attention is best spent on what they can control – especially their customers.
- Prioritise Customer Engagement
Now more than ever, businesses must listen to their customers. How are they reacting to potential price changes? Are they concerned about supply continuity or demand? Ensuring proactive engagement at all levels of the organisation can help tailor strategies to retain loyalty and manage expectations. - Strengthen Supplier and Distributor Relationships
Supply chain disruptions are a major risk under new tariffs. Again, proactive dialogue is key:- Open dialogue with suppliers to proactively manage demand, explore cost-sharing or alternative sourcing options.
- Assess distributor agreements to ensure flexibility I case of delays or price and volume fluctuations.
- Diversify supply chains where possible to reduce dependency on affected trade routes.
- Maintain Open Communication Channels
Transparency with stakeholders—customers, employees, and partners—builds trust during uncertain times. Clearly communicating challenges and mitigation plans can prevent speculation and strengthen long-term relationships. - Stay Agile and Informed
Since trade policies may evolve, businesses should:- Monitor political and economic developments closely
- Scenario plan for different tariff outcomes
- Avoid long-term commitments based on short-term volatility
In summary, business leaders should avoid the temptation to spend the day in internal meetings and team calls and instead ensure that their leaders and teams are communicating and listening to their customers, suppliers and stakeholders.
Looking Ahead
While the Trump tariffs introduce new challenges, they also present an opportunity for British businesses to reinforce their adaptability. By focusing on customer needs, nurturing key relationships, and remaining agile, companies can navigate this period of uncertainty and emerge more resilient.
In the end, the businesses that thrive will be those that resist panic, stay informed, and keep their partners and customers at the heart of their strategy.
If you would like help in engaging active communication with your customers or supply chain, we would be delighted to help and support. Please reach out at info@wherenowconsulting.com or call +44 (0) 141 370 8999.