Cambridge’s Raspberry Pi has long been celebrated for its resilience in navigating global trade disruptions, but the recent imposition of a 10% tariff on all UK exports to the United States may test its agility.
The tariffs, effective April 5, 2025, follow a broader US trade policy shift aimed at addressing trade imbalances and protecting domestic industries.
Analysts at Jefferies Research suggest that Raspberry Pi may remain relatively insulated from immediate tariff-related disruptions. With its manufacturing centred in Pencoed, Wales—far from the Chinese supply chains that dominate much of the tech sector—the company has historically avoided the more severe impacts of prior US-China trade tensions. However, the new tariffs directly targeting UK exports could increase costs for American buyers of Raspberry Pi products, potentially affecting demand in one of its key markets. Notably, 29% of Raspberry Pi’s sales in 2024 were in the Americas.
CEO Eben Upton acknowledged that while tariffs might raise prices for US customers, competitors are unlikely to gain a significant advantage. Many alternative single-board computer manufacturers rely on components or production facilities in China, which are subject to even higher tariffs. This unique positioning could help Raspberry Pi retain its competitive edge despite the added costs.
The launch of 22 new products in 2024—including the Raspberry Pi 5 and AI-focused accessories—has positioned the company as a key player in industrial computing. Jefferies analysts predict that these innovations will drive revenue growth by 2026, even if short-term challenges persist.
While the full impact of US tariffs remains uncertain, Raspberry Pi’s diversified market strategy and strong foothold in industrial applications may provide a buffer against potential headwinds. As Upton remarked, “We aspire to become the compute partner of choice,” signalling confidence in the company’s ability to navigate these challenges and continue its growth trajectory.
For now, Raspberry Pi remains a standout example of how British innovation can thrive amid global economic turbulence—even as it braces for new obstacles in one of its largest markets.
Raspberry Pi shares were 7% down today in early trading today, in-line with a major dip across all markets.
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