Deal Risk Radar: Trade Disruption

One in four UK manufacturers have reported balance sheet losses linked to US tariffs. Eight in ten have been impacted by tariffs of some form. The EU has proposed slashing its steel import quota by 47% with a 50% tariff on excess imports from June 2026. For PE firms with portfolio companies in manufacturing, food production, or distribution, this isn’t a trade policy story. It’s an insurance story.

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