Commenting on the US midterm election results, BritishAmerican Business CEO Duncan Edwards said:
“The midterm results have changed the political balance in Washington, but we don’t expect them to fundamentally alter the US-UK business and trading relationship. Divided government may make major legislative change harder, but on trade, the President will continue to hold most of the cards.
“Further tariff increases may become politically harder, but we don’t expect existing tariffs to disappear. While most businesses would prefer to see them removed, exporters have largely now built the cost of tariffs into their businesses plans and we expect they will remain a feature of US trade policy throughout this presidency and beyond.
“Tariffs, however, are only one part of a much bigger economic relationship. The US remains a magnet for international investment, and the underlying reasons British companies invest there haven’t changed. We expect the UK-US economic corridor to remain strong, with continued progress on trade and opportunities for growth in areas such as technology and AI, life sciences, defence and energy.”