This week US president Donald Trump declared that the previously announced 25% tariffs on steel and aluminium components being exported to the USA from Britain would now include all finished goods. JCB chief executive Graeme Macdonald told The Times that the new tariffs were “punitive” and unexpected. “It will make us have to reconsider how we trade with North America.”JCB has already switched gear once in response to Trump’s tariffs. Back in April Macdonald said: “In the short term, the imposition of tariffs will have a significant impact on our business. With these new tariffs now applying from mid-August, there is a clear risk of further sharp declines if workable solutions are not found.