Welsh firms hit by global tariff changes, survey finds
However, the survey also points to signs of growth.
David Pena, director of international trade at Chambers Wales South East, South West and Mid, said: "It has been an unpredictable period for international trade, with ever-changing tariff decisions and trade talks progressing.
"Tariffs can act as a trade barrier to fostering long-term growth, and it is clear that the US' decisions have impacted businesses in Wales whether directly or through supply chains."
Nearly a third of businesses said export orders and advanced bookings increased in Q2, up from 25 per cent in Q1.
The report highlights the impact of US trade policy, including President Donald Trump's 'Liberation Day' announcement and new tariffs introduced in April.
Fifteen per cent of Welsh firms reported being affected by the 10 per cent US tariff on imports, while 23 per cent said their business or supply chain felt the effects of wider global tariffs.
Some firms said the tariffs had not impacted trade, but others reported a slowdown in US business, with fewer enquiries and orders.
Nearly a quarter said they would reconsider the country of origin for goods to avoid tariffs.
The survey also examined business conditions beyond trade.
Forty-four per cent of businesses attempted to recruit in the past three months, but two-thirds faced difficulties due to a lack of suitable candidates.
Gus Williams, interim CEO of Chambers Wales, said: "Despite a mixed picture in the world of international trade, it is heartening to see the positives in our survey results from increases in export orders to investment plans for training."
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