Navigating Tariff Changes: how UK businesses are responding to a shifting trade landscape
Innovate UK Loans hosts a virtual roundtable bringing together public and private sector experts with businesses to explore the real-world impact of recent tariff changes. Watch the highlights video to hear experts share how other innovative companies are adapting and staying competitive in a changing landscape.
Impact on innovators
The tariff landscape is evolving quickly, but innovative UK businesses don’t need to navigate it alone. Events like this are part of Innovate UK’s commitment to supporting innovators through change with timely information, meaningful connections, and actionable insights.
This virtual event, held on 19 June 2025, was organised by Christina Melling of Innovate UK Portfolio Loans for businesses within Innovate UK’s loans portfolio. The event was organised in response to a growing concern among innovators about the practical implications of recent tariff changes and international trade developments, particularly the evolving US-UK relationship.
A recent survey across Innovate UK’s loans portfolio showed that:
- 68% said tariffs were influencing their growth or expansion plans
- 50% were already seeing impacts on day-to-day operations
- Only 23% had already adjusted their supply chains in response
This demonstrates how a forum for shared learning and expert input was both timely and necessary. The event represented Innovate UK’s response to the call for guidance in light of recent news, and its ongoing commitment to providing practical support to businesses navigating complex external factors.
Making tariffs a reality
The session opened with a panel discussion featuring:
- Marco Forgione, Director General at the Chartered Institute of Export and International Trade
- Martin Fitches, Director at the Department for Business and Trade
- Maurice Disasi, VC investor from Mercia Asset Management
Together, they provided a high-level yet practical overview of how tariff shifts (including those stemming from the new US-UK agreement) are impacting UK businesses, particularly early-stage, high-growth SMEs.
The discussion highlighted a clear agreement that tariffs are not just a regulatory concern — they’re an operational reality, affecting everything from cost planning to customer relationships. One unexpected insight was how tariff awareness often lags business impact, causing many companies to respond later than is optimal.
The second half of the event opened the floor to attendees. Businesses shared their own experiences and challenges, ranging from customs confusion to supplier renegotiations and concerns around compliance risk.
Key takeaways
Four major themes emerged from both the panel and audience contributions.
- Tariff awareness is now mission-critical — companies can’t afford to treat trade issues as background noise.
- Peer-to-peer learning is powerful — hearing experts discuss how others are adapting prompted many to re-evaluate their own approaches.
- Don’t wait to act — even if the policy environment remains uncertain, practical steps can be taken now to reduce risk and protect margins.
- Expert support is out there — whether via trade bodies, government resources, or investor guidance, businesses don’t need to navigate this alone.
If you couldn’t attend the live event or want to revisit the most valuable moments, the highlights video offers an accessible, condensed version of the session.
It includes:
- a brief introduction from Christina Melling, outlining the importance of navigating tariff changes
- a customer testimonial on how the session helped their business respond more strategically
- insightful clips from the expert panel
Whether you’re starting to feel the effects of tariffs or want to stay ahead of future changes, this video offers practical advice, expert perspective, and relatable insight.
Stay informed
Contact the Investment Team: investment@iukbc.org.uk
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Resources | The Chartered Institute of Export & International Trade
Cabinet Office evaluation of those digital trade pilots mentioned by the Chartered Institute of Export and International Trade, including statistics around the cost and time reductions, in case of interest: The Ecosystem of Trust Evaluation Report 2023 – GOV.UK
Global Horizons – the piece of research Chartered Institute of Export and International Trade speaker referred to in relation to services export potential by region
Export | E-Commerce Trade Commission
How to navigate US tariffs – Chartered Institute support page in relation to US tariffs.
Seven Skills for Success in Global Trade | The Chartered Institute of Export & International Trade – one that Chartered Institute of Export and International Trade uses to help businesses
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