US offers opportunities despite tariffs, says CEO

A West Yorkshire business has said British firms should look for "opportunities" in America, after Donald Trump confirmed the UK would be subject to 10% trade tariffs.

The US president on Wednesday unveiled a list of tariffs on countries across the world that send their products to America.

Trust Electric Heating, based in Garforth, has since September 2024 been part of a scheme helping companies to set up production hubs in the US, rather than exporting goods from the UK.

Its CEO Fiona Conor said the "prize is huge" for firms willing to manufacture in the US, which would see companies avoid tariffs on their products and receive tax breaks.

Trust Electric, which supplies electric heaters, in September became part of a scheme, Venture for ClimateTech, to look into the American market.

Venture for ClimateTech, based in the US, says it offers funding and support to "the most promising climate tech innovators from around the world".

Ms Conor said the US market was "big", especially for small and medium-sized businesses like Trust Electric.

She said: "In America, 1% of the market is worth £1.3bn to the company, in the UK 1% of the market is worth £14m."

Trump announced on Wednesday taxes on goods coming into the US, including 10% on all UK imports and 20% on those from the European Union.

Prime Minister Sir Keir Starmer said that "just as with defence and security" the world was "entering a new era" in economy and trade.

He said his government still hoped to secure a deal with the US but reiterated that nothing would be "off the table" when it came to the UK's response to the tariffs.

"I want to be crystal clear - we are prepared. Indeed, one of the great strengths of this nation is our ability to keep a cool head."

Trust Electric has also been accepted onto a programme run by the New York State Energy Research and Development Authority to examine opportunities in the area.

Ms Conor said the company "pivoted quickly" and added that it "knew tariffs were coming and knew the prize was big over there".

"Trump put desirable measures in for innovators like us to manufacture in the US," she said.

Ms Conor said the firm would keep its UK base and create jobs in Yorkshire, but also hoped to set up manufacturing in the US.

She said if other businesses were feeling "despondent" about the tariffs, they should "look for some of the opportunities in America - they are huge".

Ms Conor was critical of the UK government's approach to Trump's election, and said officials were "too late to the table".

She said they "should have got over there earlier, looked in the white of his eyes and started negotiations early".

She added that Trump had a "big ego" and waiting until late February to begin negotiating a deal was "far too late".

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