Construction businesses highlight positive impact of global trade developments ahead of US state visit

• While tariffs have caused some disruption, HSBC UK’s survey reveals construction businesses are competing well
• HSBC UK’s own data shows year-on-year increase in value of payments

Almost a quarter of UK construction businesses have seen increased revenues as a result of this year’s global trade developments, according to new research by HSBC UK.

Ahead of the US president’s State Visit to the UK this week, HSBC UK asked 156 construction companies how this year’s trade developments – including the UK-US trade deal agreed in May – had affected their business.

A total of 24% said their revenue had increased, with 7% reporting a significant rise. By contrast, just 12% reported falling revenues.

In addition, 22% said they now had more new customers from the US, compared to just 4% that had seen a fall.

HSBC UK’s own data also demonstrates that business between the UK and the US across all sectors has continued to thrive.

In the 12 months to June 2025, year-on-year:

• the value of payments made by HSBC UK business clients to the US rose by 23%
• the value of payments received by HSBC UK clients from the US rose by 13%

Stephanie Betant, Head of Global Trade Solutions at HSBC UK, said:

“While tariffs have grabbed the headlines this year, our survey of UK businesses shows that they continue to reap the rewards of a robust trading relationship between the two counties.

“HSBC UK’s own data supports this picture, showing that the value of payments to and from the US has grown significantly year on year.

“The US has long been a vital market for both our clients and UK businesses more broadly and there is currently no sign of this changing.”

In HSBC UK’s survey, more than three quarters (77%) of construction businesses which operate internationally said they planned to reconfigure their supply chain in response to global trade developments.

More than a third (36%) said they expected to diversify their supply chain, while 34% said they would be increasing stock levels to manage supply disruptions.

To a smaller degree, other changes construction businesses were expecting to make included: investing in digital infrastructure (30%); shifting production to politically aligned or stable countries (21%); and moving production closer to key customer markets (20%).