For weeks the word "tariffs" has been on everyone's lips. From long lists of reciprocal tariffs leaving few unscathed, to a 90-day reprieve from President Trump, industry reactions have moved from "what now?", to "what's next?".

The initial news was unsettling, but traders have a long history of overcoming challenging conditions and rising costs. Brexit is a prime example. But the volatility that has followed the tariff announcements has been equally discombobulating for exporters, as well as US businesses who rely on imported goods.

I was in New York for Tartan Week on the day of the initial tariff declarations and spoke with a big-hitter in our industry – a fish market servicing around 80% of the city’s Michelin-star restaurants. They deal in quick turnover produce, with immediate exposure to price hikes.

So, while the 90-day reprieve may signal some relief, buyers like our friends in NYC........

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