Overview

• Make UK survey finds the US has fallen to fourth among British manufacturers’ target markets, trailing the EU, Asia-Pacific and the Middle East for the first time since 1988.
• Sixty percent of respondents expect President Trump’s tariffs to damage their businesses, and only 4% would consider establishing production facilities in the US.
• Official data shows April exports to the US plunged by £2 billion, marking the steepest monthly decline since records began in 1997.
• Make UK has cut its manufacturing growth forecast to -0.2% for 2025 and -0.5% for 2026 following rising uncertainty, skills shortages and high energy costs.
• US manufacturers’ optimism has fallen to its lowest level since the pandemic, with trade uncertainty cited as the primary factor.