Over a third of Scottish mid-market businesses have said that they expect to be directly affected ‘to a significant extent’ by the US Government tariffs, according to the latest survey from accountancy and business advisory firm BDO.

Its survey of 500 mid-market businesses conducted between 24 March and 2 April –  before the US administration’s tariff announcement – shows that Scottish businesses were realistic about the possible impact of the policy change, with 34% saying they expected to be directly affected ‘to a significant extent’ while 66% said ‘to some extent’.

No respondents said they would not be affected.

The tariffs are set to impact a number of sectors in Scotland, with food and drink, particularly the Scotch whisky industry, likely to feel the effects of the changes. According to the latest data from the Scotch Whisky Association, scotch exports topped £5.4 billion in 2024, with the United States remaining the biggest market by value, worth £971 million.  James Paterson, tax partner at BDO in Scotland, said: ‘Mid-market businesses in Scotland have clearly seen the writing on the wall and have braced themselves for the impact of the US administration’s tariff policies.

“However, this doesn’t mean that they are all prepared. Some UK companies will urgently need to take proactive measures to confirm the correctness of their goods classification and to verify the true country of origin for the goods they export into the US. Supply chains can often be complex – for example, Chinese goods are often trans-shipped via other countries to the US but they remain of Chinese origin and would be subject to the tariff levels being placed on Chinese goods.

“Longer term, many businesses will need to consider supply chain and wider operational footprint changes – such as changing the territory of sourcing and/or the location of their manufacturing operations.”