By Alistair MacDonald
European companies are already taking a hit from canceled orders and uncertain clients.
U.K-based Plants Parts Ltd found itself sitting on a container with around $450,000 worth of unsold construction machinery parts soon after President Donald Trump announced a 10% tariff on U.K. exports to the U.S.
Plants Part couldn't offer a discount to the original buyer because the profit margins are so small. Richard Finch, co-owner of the company, said that they have already found non U.S. buyers for some of the cargo and the original customer has returned to take around half later this month. Finch says he hopes to pick up business in countries that currently buy parts from the U.S., such as Canada.
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(END) Dow Jones Newswires
April 09, 2025 06:20 ET (10:20 GMT)
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