Isle of Man Government ‘closely monitoring’ impact of US trade tariffs

Government assessing risks as 10% levy on goods prompts concern

The Isle of Man Government says it is ‘closely monitoring’ the situation after the United States introduced new trade barriers affecting much of the global economy.

Donald Trump announced a series of ‘reciprocal’ tariffs, including a 10 percent levy on all goods exported from Britain.

While some businesses remain optimistic about expanding exports to the US, those in the agriculture sector say it’s a worrying time, warning they could be left ‘high and dry’.

The Department for Enterprise has been in contact with the Chamber of Commerce and other business groups to understand the potential impact of the tariffs on local businesses, and says it continues to assess the risks.

Trump's tariffs apply only to goods, not services- something the government says should limit the impact to a small number of export-focused, goods-producing businesses with customers in the US.

However, it adds the situation is still in its early stages, and more details are needed before the full impact on individual businesses and the wider economy becomes clear.

Businesses concerned about the tariffs are being encouraged to get in touch with the relevant team within the Department for Enterprise.