One of Wales’ most prominent companies has raised concerns that the tariffs imposed by President Donald Trump could significantly impact their business operations. Halen Môn, based in Anglesey, has been exporting its renowned salt to the US since 2000. However, a senior figure at the company has revealed that Trump’s latest tariffs could potentially bring an end to their sales in the country. President Trump recently announced new import taxes on goods entering the US, with UK products facing a 10% tariff. The United States stands as one of Wales’ top export markets, with exports totalling over £2.23 billion in 2024.
Alison Lea-Wilson, the Managing Director of Halen Môn, expressed her apprehensions about the potential consequences of the tariffs during an interview with BBC Radio Wales. She highlighted the complexities of the US market, indicating that their products already incur costs “two to three times” higher than in the UK due to various intermediaries involved in the supply chain process. Lea-Wilson emphasised that adding an additional 10% tariff could prove to be decisive for the company’s operations. She mentioned that Halen Môn had already absorbed some of the increased costs associated with exports to the EU post-Brexit.
In light of the changing economic landscape and external pressures, Lea-Wilson acknowledged the challenges faced by the company in maintaining its commitments as a responsible employer. Despite striving to navigate the added financial burdens, she expressed concerns about reaching a threshold where further adjustments may not be feasible. Reflecting on the significance of their relationship with American consumers, Lea-Wilson recalled a proud moment when Halen Môn’s products were chosen by former President Obama as his preferred option, even serving them to guests at the White House.
Amidst these developments, Cardiff University Professor Max Munday provided insights on the broader implications of the tariffs. He cautioned that the impact would not only affect Welsh businesses directly exporting to the US but could also lead to increased costs throughout the supply chain for manufacturing firms in Wales. Munday pointed out the limitations of finding solace in the comparatively lower tariffs imposed on the UK, stressing the potential repercussions of higher tariffs imposed on UK trading partners.
The looming uncertainties surrounding international trade dynamics underscore the challenges faced by businesses in Wales and the broader UK economy. As global economic landscapes continue to shift, it becomes imperative for companies to adapt and strategize effectively to navigate these intricacies. The concerns raised by Halen Môn serve as a reminder of the interconnectedness of global markets and the ripple effects that geopolitical decisions can have on businesses, underscoring the need for resilient and proactive approaches to mitigate potential disruptions.