Talk about the T-Word: tackling Trump’s tariffs

As a Scot, I can’t help but admire our nation’s knack for calling it like we see it. The late comedian Janey Godley’s famous sign about Donald Trump comes to mind – it’s succinct, blunt, and unmistakably Scottish – but the challenges a Trump presidency presents to UK plc are no joke.

With tariffs potentially reaching 25 per cent on goods imported from the UK into the US, the cost of doing business in one of our most important markets is set to rise. While US importers technically pay the tariff, the ripple effect impacts exporters like Novosound, as buyers look to offset increased costs. For a company earning 70 per cent of its revenue in North America, this presents a challenge – but it’s also an opportunity to innovate, strengthen partnerships and adapt our strategies to continue thriving.

A fortnight ago I had the privilege of speaking at the Scottish North American Business Council’s “Doing Business in the USA Masterclass” in Edinburgh. This event provided insights into the US market – Scotland's largest international trading partner – and sparked discussions with senior trade officials and advisers on the implications of tariffs for businesses like ours.

The US is the biggest market for Novosound's ultrasound wearable technology

At Novosound we have built our success on innovation and adaptability. Our thin-film ultrasound sensors are flexible, scalable and more affordable than existing technology. This gives us a technological and commercial competitive edge, even with tariffs pushing up costs. More importantly, it allows us to adapt quickly to changing markets. When the rules shift, we don’t complain, we innovate.

One of our key strategies is fostering strong partnerships with US organisations. For example, collaborating with key players at the Texas Medical Centre, medical device companies such as Nasdaq-listed PAVmed and major industrial players means our technology is becoming a core component integrated into products worldwide. This does not just help us mitigate the risks of increased tariffs, it makes us indispensable to the supply chain. With the Buy America Act favouring US goods, these partnerships are more critical than ever to our growth.

But let’s be clear: we’re not just reacting to challenges, we’re building on opportunities. The US market remains an incredible space for us. Whether it’s enabling high-resolution medical imaging or wide-area industrial monitoring, our technology solves critical problems for sectors from healthcare to energy. That demand doesn’t disappear because of tariffs; if anything, it grows.

What keeps me optimistic is the blend of Scottish resilience and pragmatism that’s at the core of the company we spun out of the University of the West of Scotland in 2018. From Day One, we’ve been committed to being a global company. That means navigating tough trade environments, building trust with partners and staying laser-focused on delivering value.

Dave Hughes: 'When the rules shift, we don’t complain, we innovate'

Trump’s tariffs are a challenge, sure, but they’re also a chance to prove what we’re made of. By doubling down on innovation, strengthening our US relationships and staying adaptable, we’re not just surviving this storm – we’re coming out stronger. Scottish ingenuity got us here, and it’ll see us through.

Dave Hughes is the CEO and Founder of Scottish ultrasound specialist Novosound​