The fallout from Trump’s tariffs continues with chaos in international markets and the threat of a global trade war.

Paul Holland, managing director for UK/ANZ Fleet at Corpay, including UK brands, Allstar and Keyfuels, provides his response to these developments and his advice to the UK’s fleets.

Paul Holland, managing director for UK/ANZ fleet at Corpay

President Donald Trump has now confirmed that new import taxes of 25% on vehicles entering the US will apply to the UK, with a 10% blanket tariff. This is set to have significant repercussions for UK fleet operators and the broader automotive industry.

It could increase vehicle acquisition costs, while it could also cause manufacturers to redirect vehicle supplies to other markets, which could affect fleet operators’ ability to procure specific vehicle models. Fluctuations in vehicle prices and market dynamics may impact the residual values of fleet vehicles, complicating financial planning and lease agreements.

Over the past five years, fleet operators have been challenged by Covid, Brexit and increasingly volatile trading conditions, all of which have made getting growth momentum very difficult. While the UK government is actively engaging in negotiations with the US, I hope these discussions take place at pace and lead to decisive action, limiting the impact on our nation’s businesses.

My advice to UK fleets is to stay informed of ongoing trade negotiations and tariff developments to anticipate potential changes in vehicle pricing and availability. It is important to work with your partners to review and adjust plans and understand where efficiencies can be achieved to maintain operational efficiency in such turbulent times.