Trump tariffs land 100-year-old Stilton maker with £800k bill

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company was facing the prospect of almost £1m in extra levies because of new US tariffs – despite Sir Keir Starmer signing a trade deal with Donald Trump.Mr Mathieson said: “We’ve got about £10m of sales going into the US … you take that and we’ve ended up with an increase of just under £800,000. The trade deal has had no impact in terms of benefit for dairy [producers]. It’s certainly not helpful.”Under the terms of Sir Keir’s trade deal with the US, tariffs on British steelmakers were reduced to zero, but a 10pc levy remained on other goods including cheese such as Long Clawson’s.Tariffs are paid by the importer. Long Clawson exports cheeses to its own subsidiary in the US, meaning it will have to shoulder the charge.Bill Mathieson, chief executive of Long Clawson Dairy, says the company will be forced to pay almost £1m in extra levies - Glen MinikinMr Mathieson said the company would be forced to increase the price of some of its cheese exports as a result, but that it would be unlikely it could fully recover the impact of the tariffs through price rises.However, he added: “We might take a bit of a hit, but actually we’re very positive about the opportunities that exist in the US. Our strategy will be to try and offset [tariffs] by going out and winning new business.”Founded in 1911, Long Clawson Dairy is Britain’s largest producer of Stilton cheese and produces a significant amount of the world’s supply.Mr Mathieson also warned that the company faces a barrage of extra costs closer to home owing to tax rises on employers brought in from April.He said: “Just through National Insurance (NI) contributions and [a 6.7pc increase in the] National Living Wage, it impacted us to the tune of about £1.5m.”He said the company was having to raise its prices as a result. Food bosses have repeatedly warned that raising the cost of employment will fuel inflation. Food prices rose by 4.5pc in the year to June, climbing from a rate of 4.4pc in May. This was the fastest rate of food inflation since February last year.Mr Mathieson added: “We have to pass this on, because we don’t have the margins, and we don’t want to be another Stilton that goes to the wall because we no longer make money in our business.”Many of Britain’s Stilton makers have closed in recent years as the cheese has suffered from a lack of demand.Arla, the UK’s biggest dairy company, said last year it would end production at its 244-year-old Tuxford & Tebbutt Creamery in Melton Mowbray, Leicestershire, if it was unable to find a buyer.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,305.60 +8.81 (+0.14%)Dow 3044,323.07 -19.12 (-0.04%)Nasdaq20,974.17 +78.52 (+0.38%)Russell 20002,231.13 -8.87 (-0.40%)VIX16.65 +0.24 (+1.46%)Gold3,413.10 +6.70 (+0.20%)PortfolioSign in to access your portfolioSign inTop gainersSTEM Stem, Inc. 16.64 +3.14 (+23.26%)ALAB Astera Labs, Inc. 121.89 +19.76 (+19.35%)CLF Cleveland-Cliffs Inc. 10.66 +1.18 (+12.45%)S SentinelOne, Inc. 19.78 +1.77 (+9.83%)RXRX Recursion Pharmaceuticals, Inc. 6.40 +0.56 (+9.59%)Top losersQS QuantumScape Corporation 12.52 -2.12 (-14.48%)BRKR Bruker Corporation 35.64 -4.92 (-12.12%)NEGG Newegg Commerce, Inc. 26.34 -3.21 (-10.86%)ACHR Archer Aviation Inc. 11.85 -1.44 (-10.84%)AR Antero Resources Corporation 32.51 -3.80 (-10.47%)Most activeOPEN Opendoor Technologies Inc. 3.2100 +0.9600 (+42.67%)LCID Lucid Group, Inc. 2.8200 -0.2200 (-7.24%)QS QuantumScape Corporation 12.52 -2.12 (-14.48%)RIOT Riot Platforms, Inc. 14.02 +0.16 (+1.15%)NVDA NVIDIA Corporation 171.38 -1.03 (-0.60%)Earnings eventsTrending tickersOPEN Opendoor Technologies Inc. 3.2100 +0.9600 (+42.67%)VZ Verizon Communications Inc. 42.49 +1.65 (+4.04%)GOOG Alphabet Inc. 191.15 +5.21 (+2.80%)NXPI NXP Semiconductors N.V. 228.27 +2.37 (+1.05%)ACHR Archer Aviation Inc. 11.85 -1.44 (-10.84%)Top economic events