President Donald Trump’s decision to raise US tariffs to 15 per cent has drawn sharp warnings from British business leaders, who say the move risks harming thousands of UK exporters and slowing global economic growth.

In a social media post on Saturday, Trump said he was “effective immediately” raising the existing 10 per cent worldwide tariff on countries to the “fully allowed” 15 per cent level. The announcement followed a ruling by the US Supreme Court that the president had exceeded his authority by using emergency powers to impose tariffs on dozens of trading partners, including the UK.

The revised measure, introduced under alternative legislation, would increase tariffs on many British goods by a further 5 percentage points unless covered by existing exemptions.

The British Chambers of Commerce (BCC) said the change would affect around 40,000 UK firms exporting to the US.

William Bain, the BCC’s head of trade policy, said: “We had feared that the president’s plan B response could be worse for British businesses, and so it is proving. An extra 5 per cent increase on a wide range of UK exports will be bad for trade, bad for US consumers and weaken global growth.”

He added that businesses on both sides of the Atlantic needed clarity and stability rather than further disruption.

The UK government is engaged in high-level talks with Washington in an effort to preserve preferential arrangements under the UK-US Economic Prosperity Deal (EPD), announced in May last year by Trump and Keir Starmer.

Bridget Phillipson acknowledged the uncertainty facing exporters but insisted the UK expected its preferential trading arrangements to continue. “We want the best possible deal for British businesses,” she said.

The new 15 per cent levy represents the maximum allowed under Section 122 of the US Trade Act of 1974 and will apply for up to 150 days. Economists estimate the effective US tariff rate could rise back to around 14.5 per cent, reversing some of the reductions seen in recent weeks.

Paul Ashworth, chief North America economist at Capital Economics, suggested revenue considerations may have influenced the decision, noting that higher tariffs generate greater customs income. He added that because Section 122 requires non-discriminatory application, countries such as the UK may lose any preferential advantage previously secured.

The Supreme Court ruling has left billions of dollars in tariff revenues potentially in dispute, with US importers seeking refunds. Meanwhile, India has postponed a planned trade mission to Washington amid uncertainty over US trade policy.

Business groups warn that renewed tariff escalation could disrupt supply chains and investment decisions at a time when global growth is already fragile.

For UK exporters, particularly those outside the scope of the EPD, the immediate concern is a sudden rise in costs for access to one of Britain’s largest overseas markets.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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The generators are made in Newcastle through a partnership with Siemens Energy

Hydrogen generators made in Newcastle are to be part of the largest ever use of green hydrogen on a British construction project.

The Lower Thames Crossing – a £10bn project that will create a tunnel under the Thames between Thurrock and Gravesham – has signed a deal with hydrogen firm GeoPura to use hydrogen as a power source on the project.

The scheme is aiming to be the first major infrastructure project in the UK to operate on a carbon neutral basis, and will use hydrogen, electric and other low-carbon fuels to replace diesel and reduce emissions.

GeoPura produces green hydrogen across several locations in the UK and works with Siemens Energy in Newcastle to produce hydrogen generators. Six hydrogen-powered generators provided by GeoPura are already at work on the project, charging batteries used in electric machinery on a work site in Essex.

The company will ultimately supply 2,500 tonnes of hydrogen to the Lower Thames Crossing, enough to replace over 12m litres of diesel and save an estimated 30,000 tonnes of CO2 emissions.

GeoPura CEO Andrew Cunningham said: “We’re extremely proud to be supplying the largest volume of green hydrogen ever contracted for a British construction project and I congratulate the Lower Thames Crossing for setting a powerful example of how major infrastructure can be delivered sustainably.

“This contract award further strengthens the British hydrogen supply chain driving both price efficiency and British jobs across this new, exciting industry with tangible deployments.”

GeoPura was founded in 2019 and employs more than 170 people around the UK and Europe. It started work with Siemens Energy in Newcastle in 2022 to produce green hydrogen at an industrial scale.

Minister for Industry Chris McDonald said: “GeoPura and the Lower Thames Crossing collaboration is proof that clean energy goes hand-in-hand with major British infrastructure projects. Hydrogen has a key role to play in our industrial strategy, and from Nottinghamshire to Kent, our first flagship hydrogen projects will sustainably power projects up and down the country.”

Matt Palmer, executive director for the Lower Thames Crossing, said: “Today we’ve given the green light to green hydrogen. By replacing diesel with home grown hydrogen, we’re not only reducing our own carbon footprint but also helping clean up the construction sector.

“National Highways is supporting new jobs and skills that will put British businesses and people at the forefront of the growing clean energy sector.”

They appeared as life-sized holograms and chatted to guests at the star-studded event

A group of film fans in Bath was “beamed” onto the Baftas red carpet on Sunday from more than 100 miles away using innovative tech. The individuals were able to experience the star-studded awards ceremony at London’s Royal Festival Hall using immersive holographic technology – powered by mobile giant EE’s 5G network.

They appeared live on the red carpet as life-sized holograms, surprising guests at the event and sharing their excitement in real time.

Ex-Made in Chelsea stars Jamie Laing and Sophie Habboo hosted the holographic experience from London, guiding globally recognised stars through the live interactions with fans from the West Country.

Bafta host Alan Cumming, actress Aimee Lou Wood, and EE Rising Star winner – actor Robert Aramayo – were among guests to interact and speak to the holographic fans live from the EE stage.

Aimee Lou Wood told one Bath film fan which of her characters she’d bring to a Bafta nominated film, saying: “I would put Chelsea from The White Lotus into Sinners so she could live forever…”

Actor Jay Lycurgo, who starred in Peaky Blinders, offered a Bath film fan his advice for the next generation of actors: “Acting is a true rollercoaster,” he said. “You have to really believe in yourself and your authenticity. It’s about playing the long game, it’s not about immediate success.”

Reflecting on hosting the night, Laing and Habboo said it was “an honour” to give film fans “the night of a lifetime”.

“The awards truly celebrate creativity and storytelling at the highest level but tonight felt extra special,” they said. “It wasn’t just about what was happening inside the ceremony, it was also about celebrating the UK’s love of film and bringing audiences closer to the action.”

The winners of the Bafta Film Awards were announced on Sunday (February 22) in a ceremony hosted by Alan Cumming in London.

US comedy action-thriller One Battle After Another, starring Leonardo DiCaprio, Sean Penn, Teyana Taylor and Chase Infiniti, won six awards – the most of the night – followed by I Swear, Sinners and Frankenstein, which got three each, while Hamnet scooped two.

Jessie Buckley won the Leading Actress category for Hamnet; Robert Aramayo won Leading Actor for I Swear; Sean Penn won Supporting Actor for One Battle After Another; and Wunmi Mosaku won Supporting Actress for Sinners

The Bafta Fellowship was presented by Bafta’s President, the Prince of Wales, to Dame Donna Langley, in honour of her “transformative leadership, sustained commitment to inclusion and pipeline building, and the strength of her relationships with creative partners who bring film and television to life”.

Apple is poised to enter the foldable smartphone market with its first foldable iPhone potentially launching in late 2026, according to mounting industry reports and analyst predictions. The highly anticipated device, often referred to as the “iPhone Fold,” is expected to feature a book-style folding mechanism similar to Samsung’s Galaxy Z Fold series, offering a larger inner display for productivity while maintaining a compact form when closed.

Multiple credible sources, including analysts Ming-Chi Kuo, Jeff Pu and Bloomberg’s Mark Gurman, point to a debut in the second half of 2026, likely alongside the iPhone 18 Pro and iPhone 18 Pro Max in September. Mass production of key components, such as the foldable display, is reportedly set to begin in July 2026, aligning with Apple’s traditional fall launch timeline. Foxconn, a primary manufacturing partner, has reportedly entered the engineering validation and pre-production phases, with component stockpiling underway.

The book-style design remains the consensus, eschewing a clamshell flip format for the initial model. When unfolded, the inner screen is expected to measure around 7.8 inches, providing an iPad mini-like canvas for multitasking, media consumption and AI-enhanced features. The outer cover display is rumored to be approximately 5.5 inches, allowing conventional smartphone use when folded. Thickness estimates vary: Kuo suggests 9-9.5 mm folded and 4.5-4.8 mm unfolded, while recent leaks indicate at least 4.8 mm unfolded for durability.

Durability and crease minimization are priorities. Apple is reportedly aiming for a nearly crease-free inner OLED panel through advanced hinge technology. The hinge may combine titanium and stainless steel or aluminum, with the frame using a hybrid titanium-aluminum alloy to balance strength, heat dissipation and weight. Volume buttons could shift to the top edge, akin to the iPad mini, while the power button and potential Camera Control remain on the side. The rear camera module is described as an iPhone Air-style plateau on the left.

A fingerprint sensor under the power button is rumored as an alternative to Face ID, possibly to save internal space and maintain thinness. Connectivity may include Apple’s in-house C2 modem and N2 Wi-Fi 7 chip for improved performance.

Battery life could benefit from a larger capacity, with some leaks mentioning around 5,000-5,500 mAh to support the bigger screen and power-hungry features. The device is expected to run enhanced iOS versions with multitasking optimizations for the foldable form factor.

Pricing positions the iPhone Fold as Apple’s most expensive smartphone yet. Estimates range from $2,000 to $2,500 in the U.S., with some analysts like Kuo citing $2,000-$2,500, Gurman suggesting at least $2,000, and others narrowing it to $2,100-$2,400. UBS predicts a possible $1,800-$2,000 range due to cost optimizations, particularly in hinge assembly priced at $70-$80 per unit. The premium reflects advanced materials, complex engineering and Apple’s brand positioning, though it could limit initial volume compared to standard iPhones.

Shipment forecasts are cautious: Kuo anticipates 3-5 million units in 2026, scaling to over 20 million (including second-generation models) in 2027. Production challenges, such as hinge reliability and display yield, could constrain supply.

The foldable arrives amid Apple’s evolving lineup. Reports indicate the standard iPhone 18 may shift to early 2027, focusing 2026 on premium models including the foldable. This strategy leverages the 20th anniversary of the original iPhone while addressing competition from Samsung, Google and Chinese brands dominating foldables.

Apple has tested prototypes for years, prioritizing quality over speed. While a clamshell version is reportedly in early development, it’s not expected soon and may follow if the book-style succeeds.

The iPhone Fold could redefine Apple’s mobile ecosystem, emphasizing AI integration on a larger canvas. Success hinges on crease-free performance, battery endurance and seamless software adaptation.

As details remain speculative, Apple’s official reveal — if it occurs in 2026 — will clarify the device’s positioning in a maturing foldable market.