{"id":4267,"date":"2025-09-15T23:01:00","date_gmt":"2025-09-15T23:01:00","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/uk-firms-trading-more-with-the-us-as-they-pivot-from-goods-to-services-hsbc\/"},"modified":"2025-09-15T23:01:00","modified_gmt":"2025-09-15T23:01:00","slug":"uk-firms-trading-more-with-the-us-as-they-pivot-from-goods-to-services-hsbc","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/uk-firms-trading-more-with-the-us-as-they-pivot-from-goods-to-services-hsbc\/","title":{"rendered":"UK firms trading more with the US as they pivot from goods to services \u2013 HSBC"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"main\">\n<div class=\"hydrate-root sc-10wlkbs-0\" data-component=\"Newsletter\" data-loading=\"lazy\" data-theme-name=\"base\">\n<aside class=\"sc-y4bm30-0 jwWhkK newsletter-component sc-1ge0fwe-0\" data-newsletter-key=\"receiveIndyBreakingNews\">\n<div class=\"sc-y4bm30-2 kcLSBk\"><\/div>\n<div class=\"sc-y4bm30-1 inRDZn\">\n<div class=\"sc-y4bm30-3\">\n<div class=\"sc-y4bm30-4 hfveGa\">\n<p><h3 class=\"sc-y4bm30-5 sc-y4bm30-6 fvoxRM dRzeRr\">For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-8 fvoxRM knvhy\">Sign up to our free breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-7 fvoxRM kbCQAZ\">Sign up to our free breaking news emails<\/h3>\n<\/p>\n<p><svg class=\"sc-eaj12q-0 hKcUSR sc-culv3z-0 eifaJK sc-1ix0cah-0 PYnPb sc-y4bm30-10 fUEDPX\"><use href=\"#600f53465147d717\"\/><\/svg><\/div>\n<div class=\"sc-y4bm30-2 kcLSBk sc-y4bm30-9 iQYNfz\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/static-assets\/images\/newsletters\/breakingNews1_1.png\" loading=\"lazy\" alt=\"Breaking News\" class=\"sc-1mc30lb-0 ggpMaE\"\/><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<p>UK businesses have benefited from prospering trade with the US as they welcomed new deals and seized opportunities to sell services rather than goods, new research shows.<\/p>\n<p>New data from <a href=\"https:\/\/www.independent.co.uk\/topic\/hsbc\">HSBC<\/a> comes ahead of US President Donald Trump\u2019s state visit to the UK, which begins this week.<\/p>\n<p>It found that British firms are enjoying higher sales with US firms despite many feeling the effects of Mr Trump\u2019s steeper tariff rates on exports.<\/p>\n<p>The value of payments made by HSBC\u2019s business customers in the UK to those in the US surged by 23% in the year to June compared with the prior year.<\/p>\n<p>Payments made to the UK from US business customers also rose by 13% year on year.<\/p>\n<p>A separate survey by the bank of 2,000 UK businesses found a third said they now had more new customers in the US \u2013 compared with 16% reporting a decline.<\/p>\n<p>Of those already trading with America, 37% said their revenues had increased, with a tenth reporting a significant rise.<\/p>\n<p>In contrast, a fifth reported falling revenues.<\/p>\n<p>Stephanie Betant, HSBC\u2019s head of global trade solutions, said the agreement struck between the UK and the US in July gave businesses \u201cclarity fairly quickly\u201d in terms of the framework for trading.<\/p>\n<p>Furthermore, she stressed the UK being predominately made up of firms in the services sector means many have been cushioned from the impact of steeper tariffs on goods exports.<\/p>\n<p>\u201cFundamentally, the UK is a service economy and the US is the number one service economy,\u201d she told the PA news agency.<\/p>\n<p>\u201cIf you look at the shape of UK trade over the past four or five years, it\u2019s gone from being largely majority goods to now majority services.\u201d<\/p>\n<p>Services \u2013 which incorporates everything from hospitality and entertainment, to IT, communications and healthcare \u2013 are not subject to tariffs to the extent that goods exports are.<\/p>\n<p>Ms Betant added that many \u201cgoods-focused businesses\u201d were choosing to \u201cadd a services layer\u201d to what they offer in order to boost the value of their exports.<\/p>\n<p>This has resulted in more firms investing in digital assets and technology, rather than building up their inventories of physical stock.<\/p>\n<p>Nevertheless, Ms Betant acknowledged there was a \u201chuge amount of disruption\u201d for some sectors such as carmakers and Scotch whisky firms who are facing new and steeper levies to export to the US.<\/p>\n<p>\u201cThe environment has created a lot of friction for companies \u2013 certain companies wouldn\u2019t have paid tariffs before, now they have to, and when it comes to goods, slowing down shipments,\u201d she said.<\/p>\n<p>\u201cTariffs are working their way through the system so they are starting to impact more broadly into the economy.\u201d<\/p>\n<p>Ms Betant stressed a key thing businesses were looking for was greater sector-based trade agreements.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.independent.co.uk\/news\/business\/hsbc-b2827137.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails UK businesses have benefited from prospering trade with the US as they welcomed new deals and seized opportunities to sell&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/uk-firms-trading-more-with-the-us-as-they-pivot-from-goods-to-services-hsbc\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;UK firms trading more with the US as they pivot from goods to services \u2013 HSBC&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":4268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/static.independent.co.uk\/2024\/10\/01\/00\/30153349-d50d010d-cfc8-4644-99d2-672791981202.jpg?width=1200&height=800&crop=1200:800","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-4267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK firms trading more with the US as they pivot from goods to services \u2013 HSBC - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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