“This reduced tariff means that manufacturers in the region can have greater confidence in continuing production here in the UK. It will also be a relief to the extensive supply chains that exist here, particularly for our SME community, which will benefit from much greater certainty and stability. Whereas the previous 27.5% tariffs would likely have led to structural changes in the industry, a 10% rate can be more feasibly absorbed by a combination of cost reduction, margin reduction and price increase.