Press Release From Vellis Financial, London, 22 May 2025
- Which UK cities are most exposed to Trump’s new tariffs? Vellis Financial’s 2025 Tariff Resilience Index ranks 58 cities by how well they’re positioned to handle the economic shock from new US import duties.
- Even after last week’s partial trade deal, most UK goods still face a 10% blanket tariff — with 25% levies on metals and manufactured products. Cities with high US trade exposure and weaker economic buffers face mounting pressure.
- Most resilient: London, Birmingham, Manchester
Most exposed: Gloucester, Norwich, Worthing
Fintech provider Vellis Financial has released the 2025 Tariff Resilience Index, ranking 58 UK cities by their economic strength and vulnerability to tariff-related shocks. Despite recent concessions from Washington — such as reducing car tariffs from 27.5% to 10% and lifting levies on British steel and aluminium — most UK goods still face a 10% blanket tariff, with 25% duties remaining on many manufactured exports.
London tops the Index, followed by Birmingham and Manchester. Cities such as Gloucester, Norwich, and Worthing ranked lowest due to weaker trade diversity, public finances, and sector risk.
The research comes amid signs of growing strain on the UK economy. Government borrowing surged in April, private sector activity is shrinking, and UK businesses are warning of declining profitability and demand as a result of U.S. tariffs — with some scaling back exports or cancelling orders entirely.
“This isn’t a full-blown trade war — but it’s a clear warning,” said Dr. Alex Winter, Senior UK Analyst at Vellis Financial. “Cities with heavy U.S. exposure and limited financial buffers are especially exposed, even with some relief in the latest trade deal.”
Index Results: Top 10 and Bottom 5
Top-ranked cities: London, Birmingham, Manchester
Lowest-ranked cities: Gloucester, Norwich, Worthing
Full 2025 UK Tariff Resilience Index
This ranking scores 58 UK cities by how resilient they are to U.S. tariff shocks — using indicators like trade exposure, SME lending access, sector risk, public finances, and investor sentiment. A higher score means stronger economic resilience. A lower score signals higher vulnerability to Trump-era tariffs.
Here’s the full ranking:
- London – 88
- Birmingham – 87
- Manchester – 85
- Reading – 80
- Edinburgh – 79
- Leeds – 78
- Bristol – 77
- Liverpool – 76
- Milton Keynes – 75.5
- Glasgow – 75
- Newcastle – 74.5
- Southampton – 74
- Nottingham – 73.5
- Oxford – 73
- Sheffield – 72.5
- Cambridge – 72
- Derby – 71.5
- Exeter – 71
- Wolverhampton – 70.5
- Sunderland – 70
- Coventry – 69.5
- Warrington – 69
- Plymouth – 68.5
- Basildon – 68
- Middlesbrough – 67.5
- Slough – 67
- Swindon – 66.5
- Luton – 66
- York – 65.5
- Brighton – 65
- Preston – 64.5
- Peterborough – 64
- Southend – 63.5
- Blackpool – 63
- Doncaster – 62.5
- Bradford – 62
- Hull – 61.5
- Dundee – 61
- Aldershot – 60.5
- Birkenhead – 60
- Bolton – 59.5
- Wakefield – 59
- Barnsley – 58.5
- Portsmouth – 58
- Ipswich – 57.5
- Wigan – 57
- Mansfield – 56.5
- Northampton – 56
- Huddersfield – 55.5
- Telford – 55
- Leicester – 54.5
- Stoke – 54
- Cardiff – 53.5
- Crawley – 53
- Worthing – 52.5
- Burnley – 52
- Norwich – 51.5
- Gloucester – 51
Why London Leads
London ranks highest due to its service-driven exports — 63% fall outside tariff-prone categories — and a record £23bn in inward investment last year. A resilient SME finance ecosystem and diverse export base boost its score.
Midlands Mixed Fortunes
Birmingham ranks second with strong SME finance access and export diversity. However, the wider West Midlands — reliant on steel and precision manufacturing — remains vulnerable. Coventry (No. 21), previously the UK’s most U.S.-dependent goods exporter, ranks mid-table thanks to battery sector investment and sound public finances.
North-South Divide Persists
Manchester outpaced Leeds, buoyed by £1.2bn in investment across tech, logistics, and life sciences. Leeds scored well overall but was held back by workforce and housing constraints.
Cities to Watch
- Sunderland (No. 20): Still heavily reliant on U.S. exports via Nissan, but resilience is improving due to EV expansion and gigafactory growth.
- Worthing (No. 55): One of few smaller towns with over 15% U.S. export exposure — especially in marine and medical manufacturing.
- Glasgow (No. 10): Despite a 68% drop in investment last year, regional support and consumer recovery helped it stay in the top 10.
About the Index
The Vellis Tariff Resilience Index scores cities out of 100 using five weighted indicators:
- Trade exposure to U.S. markets
- SME access to finance
- Sector-specific economic risk
- Local public finance strength
- Capital sentiment and investor flows
“These metrics show which cities are equipped to weather global disruptions — and which may need support,” said Dr. Winter.
Source
Press Contact
Amy Harris
Communications Lead, Vellis Financial
[email protected]
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