WH Smith’s CEO, Carl Cowling, believes that Donald Trump’s tariff war is more likely to lead to price cuts rather than inflation for UK retailers, as east Asian suppliers seek alternatives to the US market. Despite economists’ warnings about potential inflationary pressures due to increased trade barriers, Cowling remains optimistic about the situation. He stated that any changes in sourcing or prices for WH Smith were unlikely to be immediate, as the company’s stock orders were already secured until after Christmas.

Cowling highlighted that the UK trading environment for WH Smith was robust, with no significant impact on consumer confidence despite concerns. He emphasized the need for retailers to be adaptable to volatile changes in the trading landscape, especially with the US adjusting tariff rules.

While WH Smith’s US business mainly sources food and snacks locally, suppliers of other products from countries like China may shift production to nations with lower tariffs. Cowling expressed confidence that WH Smith would not be as affected as other retailers, thanks to their focus on non-fashion items.

The article also touches on WH Smith’s recent financial performance, with profits from high street stores declining as sales decreased. However, the company’s travel business showed positive growth, with increased sales and profits in multiple countries. WH Smith remains optimistic about future growth opportunities in global travel retail, despite geopolitical and economic uncertainties.