Businesses highlight positive impact of global trade developments ahead of US state visit

More than a third of UK businesses buying or selling to the US have seen increased revenues as a result of this year’s global trade developments, according to new research by HSBC UK.

Ahead of the US president’s State Visit to the UK this week, HSBC UK asked 2,000 UK companies how this year’s trade developments - including the UK-US trade deal agreed in May - had affected their business.

A total of 37% of those already trading with the US said their revenue had increased, with 10% reporting a significant rise. By contrast, only a fifth (20%) reported falling revenues.

In addition, 34% said they now had more new customers from the US, compared to just 16% which had seen a fall.

HSBC UK’s own data also demonstrates that business between the UK and the US has continued to thrive.

In the 12 months to June 2025, year-on-year:

• the value of payments made by HSBC UK business clients to the US rose by 23%
• the value of payments received by HSBC UK clients from the US rose by 13%

Stephanie Betant, Head of Global Trade Solutions at HSBC UK, said:

“While tariffs have grabbed the headlines this year, our survey of UK businesses shows that they continue to reap the rewards of a robust trading relationship between the two counties.

“HSBC UK’s own data supports this picture, showing that the value of payments to and from the US has grown significantly year on year.

“The US has long been a vital market for both our clients and UK businesses more broadly and there is currently no sign of this changing.”

In HSBC UK’s survey, more than half (54%) of businesses which operate internationally said they planned to reconfigure their supply chain in response to global trade developments.

More than a quarter (26%) said they expected to diversify their supply chain, while 26% said they would invest in digital infrastructure.

To a smaller degree, other changes businesses were expecting to make included: increasing stock levels to manage supply disruptions (18%); shifting production to politically aligned or stable countries (15%); moving production closer to key customer markets (12%).

US expansion case study

Maeving, the UK’s leading electric motorcycle company, expanded in the US in 2024. This year they opened a showroom in Los Angeles, with further operations in San Francisco and New York.

Since landing state-side, they have seen extraordinary demand, and sales in the US have accounted for 40% of Maeving’s global sales this year to date.

They recently closed an £11 million Series A funding round to help accelerate their growth in the US further.

Will Stirrup, Co-Founder of Maeving, said:

“We are looking to grow our market share in the US, where we are seeing extraordinary demand.

“Despite the disruption caused by tariff announcements this year, we have worked hard on our business model to ensure we remain competitive in the US market and we are pleased to see that this has had a beneficial impact on our sales.

“It is very much an important market for us and one where we are keen to expand further in the coming years.”

Media enquiries to:
Robert Cox
Media Relations
HSBC UK
robert.cox@hsbc.com