Donald Trump's impending "Liberation Day" tariffs could hit three British industries particularly hard, an expert has warned. The US president is set to unveil his latest levies, which he previously said would affect "all countries" on order to make his country's trading conditions more favourable.

However, this may deal a significant blow to important industries across the globe, including ones that are already suffering. Daire Burke, head of finance broker Swoop Funding's North American operations, said the worst-affected industries in the UK will be fishing, coke (a solid fuel made by heating coal) and refined petroleum products, and mining. He told the Express: "The UK, as a major trading partner of the US, faces substantial challenges due to these tariffs. UK exports could decrease by £22 billion, a 2.6% reduction, affecting various sectors."

Mr Burke revealed that fishing exports may plunge by a whopping 21.5% "given the high sensitivity of this sector to tariff changes".

Coke and refined petroleum products are projected to see a 20.9% drop in exports "due to high trade elasticity", and mining exports could plunge by 20.4%, he said.

Mr Trump has not revealed the full extent of the tariffs, and so the extent of the impact on the UK is not yet known.

The US president has, however, confirmed a 25% import tax on all cars imported to the US - which brought in £7.6 billion last year.

There is also the prospect of reciprocal tariffs for what the Republican has called "unfairness" in the US's international trade agreements, but this has not been confirmed.

Bernadette Bulacan, finance and legal expert at software company Icertis, explained that there are three ways businesses can adapt to the Trump's administration's "expansive tariff agenda".

She told the Express: "Companies can either formulate new strategies to offset higher prices, take the hit on their balance sheet, or increase costs with customers."

Ms Bulacan urged businesses to "act now" by changing their contracts to help bring down the higher prices caused by Mr Trump's tariffs.

She added: "One thing is clear. Businesses that fail to act now risk losing control over their profitability, competitiveness, and long-term viability."