Welcome to the October 2017 BABC Trade & Investment Update 

While politics continues to create headlines on both sides of the Atlantic, the economic relationship between the UK and the US remains fairly stable. In fact, offering the UK-US economic relationship as an anchor of stability for both the UK and the US in the months to come remains one of the network's guiding principles. With that, we applaud both the UK and the US Government for agreement on a UK-US Science and Technology Agreement aiming to facilitate access to, and investment in, scientific research across the pond (Learn more here ); an initiative that the Council, with leadership of BritishAmerican Business in London and New York, has called for.

On the ground we continue to see lots of great activity. Several events hosted by BABC chapters throughout the network featured official representatives and thought leaders from their own and other side of the Atlantic and other companies turned their ambition into reality by exploring opportunities across the pond. Read Peapodicity's story below!

As we are moving closer to the Thanksgiving and Christmas season, it is worth considering whether a reception or one of the popular Christmas Luncheons is being hosted in your area. Check out the BABC website (www.babc.org) for more information on ongoing events and activities and @BABC Trade twitter account.

Our transatlantic network grows every day. Join us and get in touch at trade@babinc.org  

Follow @BABPolicy and @BABCTrade to stay up to date with all things trade. 
Highlights
BABC PHL hosts 'Brexit & The New Geopolitical Order'

On Thursday 5 October, 2017, the BABC Greater Philadelphia chapter hosted an uplifting Brexit update seminar in Wilmington, DE. Attendees included members of the British, German, Italian and Swedish Chambers of Commerce, the World Trade Center of Delaware, and the New Castle County Chamber of Commerce.

Moderated by Emanuel Adam, BAB Policy & Trade Director based at the BABC Chapter in London; the panel included Freya Jackson, Counsellor and Head of the Global and Economic Policy Group at the British Embassy in D.C.; Andrea Montanino, the C. Boyden Gray Fellow on Global Growth and Finance, and the Director of Global Business & Economics Program at the Atlantic Council; and Howard Kass, Vice President of Regulatory Affairs for American Airlines. Read the summary of the event below:

Special Feature: Peapodicity
Peapodicity, Award-Winning Transatlantic Company has BABC at the top of their list - and vice versa!

Peapodicity is an award-winning, transatlantic, educational technology startup based in London and Chicago. Co-founded by London-based CEO Ahrani Logan, a former BBC Science and Education TV Producer and STEM Ambassador, and Chicagoan CTO, Brett Haase, a software developer and self-professed tech-geek.

The company focuses on bringing Science, Technology, Engineering, Arts and Maths (STEAM) learning to life, for primary age upwards, using their specially created Augmented Reality (AR) app AugmentifyIt®️. The free app is available on the App Store, Google Play and the Amazon App Store and works with a unique range of augmentified STEAM resources. Their debut product AugmentifyIt ®️ AR Space Cards Quiz Game has just won the GOLD Award for Best Science Toy 2017 in the prestigious Made For Mums Toy Awards in London. It is the World’s first AR card quiz game for Space and is available on Amazon UK. It launches soon in the US.

Recently seen at New Scientist Live! and EduTech2017 in London, Peapodicity has embraced being a transatlantic company from the get go. The company’s foundational foothold in both the UK and US is further strengthened by the valued support of BABC and the Department of International Trade. Currently part of the London & Partners Business Growth programme, the company has recently been awarded a place on DIT’s Global Growth Programme. 

Peapodicity’s first award, last year, in the Rosalind Franklin Appathon, run by University College London, and supported by The Royal Society, saw their app game idea AMazing STEMM Trailblazers win first place as an app to empower women in STEMM (Science, Technology, Engineering, Maths and Medicine). The winning app is a game aimed at age 7+ and features 50 female STEMM role models. The judging panel included high profile entrepreneurs, scientists and Google. The winning app will be out in 2018.

The company’s recent win with their debut AugmentifyIt®️ AR Space Cards is early proof of this transatlantic company’s strengths in STEAM and AR. Tested by over 250 child toy testers and their parents, toy industry executives and celebrity judges, the team are currently working on their next offering to be launched at The London Toy Fair in January.

AugmentifyIt®️ AR Space Cards is due to launch in the US soon, in time for the holidays, along with a new AR Science Stickers range. Exhibiting at the Chicago Toy and Game Fair in November, Peapodicity is on a mission to STEAM ahead with AugmentifyIt®️ AR on both sides of the Atlantic.
Meetings and Initiatives
BABC New England hosts "Mind the Gap" Mindful Management round table luncheon

On 16 October, British Consul General-Boston Harriet Cross provided insights from her years as an international diplomat serving in Yemen and Saudi Arabia, the UK and New York at a luncheon round table organised by BABC New England in Waltham, NE. Featuring three panelists of experienced business leaders from Talent Works International, Clark Lau and Peak Scientific Ltd., the discussion explored cultural, communication and operational challenges of transatlantic business management.

SNABC Representatives meet with Ambassador of the United States to the Court of St James's Robert Johnson IV

Representatives of the Scottish North America Business Council welcomed Ambassador of the United States to the United Kingdom Robert Johnson IV in a meeting to discuss boosting the US-UK and US-SCO commercial partnership.
BABA Washington presents Small Business Group Networking Evening

The British-American Business Association in Washington, D.C., welcomed all members for an evening of SME Networking. Hosted by Dentons LLP on October 24, the event provided a great opportunity for peer-to-peer discussion and best-practice sharing.
BAB London meeting with Migration Advisory Committee

BritishAmerican Business in London hosted a meeting with the Migration Advisory Committee (MAC) to discuss the MAC's consultation into immigration. The UK Government has tasked the MAC with undertaking a consultation on the benefits of immigration to the UK, especially EEA migrants, and how a future immigration system can help achieve the Government's Industrial Strategy.
BABC Midlands hosts MEP Emma McClarkin to discuss the future of transatlantic trade

On 13 October, BABC Midlands hosted Member of European Parliament Emma McClarkin to discuss the future of the transatlantic relationship and possible post-Brexit trade agreements. The MEP told business leaders that Britain has a unique opportunity to cement its role in the world as a bastion of free trade which includes continuing to have a “deep and special relationship” with Europe.

The event was attended by, among others, Barker Brettell, East Midlands Airport, HSBC Bank, Nottingham Trent University, Santander and Royal Bank of Scotland. In the picture from left to right: Paul Southby, Chair, Invest in Nottingham, James Tait, BABC Executive Committee Member & Partner, Browne Jacobson, Sarah Walker-Smith CEO Browne Jacobson, Emma McClarkin MEP, Thomas Stevens, BABC President, Lauren Hunt, Transatlantic Business Coordinator.

Please read the full article here
Outreach and Media
BAB Policy & Trade Director Emanuel Adam featured on Sky News to speak about US-UK Trade Relationship

Emanuel Adam joined Business presenter Ian King on Sky News to discuss the possible impact of the Bombardier - Boeing dispute and a possible visit to the UK by the US President to discuss ongoing UK-US trade talks.
BAB London welcomes Congressional Delegation

 BAB were pleased to welcome a bipartisan delegation of Congressional staffers to BAB to discuss the impact of Brexit on American business. The delegation, organised by the UK Embassy in Washington D.C., visited BAB to discuss with BAB Policy Group members the most pressing concerns they had about Brexit and what Congress needed to be focusing on in negotiations
BAB joins EurActiv Business Panel on Brexit

Emanuel Adam joined trade colleagues for a EurActiv panel discussion on whether European business can influence the Brexit outcome. The panel was made up of representatives from the Confederation of British Industry (CBI), the Council of British Chambers of Commerce in Europe (COBCOE), BritishAmerican Business, German industry association VDMA and Ibec. Representing BAB, Emanuel said "The American business community has been one of the more vocal ones in the Brexit debate." He also raised the prospect that Brexit could lead to businesses moving employees to continental Europe.
News
UK-US Science and Technology Agreement

Minister of State for Universities, Science, Research and Innovation, Jo Johnson has signed a new agreement that will strengthen research collaboration between the US and the UK. The agreement includes £65 million UK investment to increase knowledge on the origin and structure of the universe.

The government has been clear in its commitment to collaborate with countries around the world in science, research and innovation and is investing record levels of funding to maintain the UK's strengths in these key areas through its Industrial Strategy.
New President of British American Business Council of Philadelphia hopes to enhance local ties with the UK

Michael Pedrick, appointed President of the British American Business Council of Greater Philadelphia, has said he hopes to provide key programming for local businesses on hot topics such as Brexit while also spreading the organisation’s reach.
The UK is the fourth-largest trade partner with Pennsylvania, behind Canada, Mexico and China - a statistic that mirrors many other states.
Pedrick said the biggest industry sector in the UK is chemicals and two-thirds of the businesses are small or midsized.
Imports and Exports Update
Source: HM Revenue & Customs Trade Statistics, accessed 26 October 2017
Ask a Question
Follow Sietske de Groot on Twitter @Sytsque
Tariffs, how to find your way? Sietske de Groot, Trade Peers Ltd explains how businesses can understand tariffs for their product

Despite new dynamics in the Brexit talks, ‘no deal’ is a possibility and WTO rules could apply from March 2019. To anticipate costs, how can businesses know about tariffs for their product? TradePeers’ Sietske de Groot explains.

The EU countries have a common import tariff, based on WTO rules. As of 30 March 2019, the UK would have the same trading conditions as, for example, the US or Australia, unless a transition period and a customs arrangement are agreed. This is the intention of both parties, but talks and governments can collapse.

Several online databases can help you find applicable tariffs. The EU has one called ‘TARIC’ and the WTO has several ones with different levels of detail. Both use ‘tariff lines’ based on the ‘Harmonized System’, an internationally agreed categorization of commodities. The art is finding the right product code and its matching tariff as an indication of potential costs. For example, 0712 20, dried onions, attracts a 13% tariff.

Dealing with tariffs is business as usual for seasoned exporters but could be daunting for companies that only dispatch to the EU. To picture the UK trading with the EU without a deal, it can help to look at the European section of the export support websites from Australia, New Zealand or the US.

Guidance on tariffs on UK-EU trade doesn’t exist, but is needed for planning purposes. However, the chances are businesses would never need to use it to ship across the Channel.
Upcoming Events
Kevin Hartman, Google - November Speaker Series

Organized by BABC Chicago

10th November 2017, Maggiano's (Chicago)
British Consul General Breakfast Event

Organized by BABC Los Angeles

16th November 2017, Fairmont Miramar Hotel (Los Angeles)
A Royal Evening - UK Business, Culture, History & Networking

Organized by BABC Philadelphia

2nd November 2017, The Pyramid Club (Philadelphia)
ScotExport 2017
Organized by Scottish Enterprise & SNABC
31October 2017, DoubleTree by Hilton Hotel (Glasgow)
BABC Charlotte 25th Anniversary Celebration

Organized by BABC Charlotte North Carolina

9th November 2017, Charlotte Country Club (Charlotte)
Business Opportunities

BABC is proud to be International Delivery Partner of the International Business Festival 2018

Please click here to learn about business opportunities at the Festival 2018

UK government supporting SMEs international trade

International Trade Secretary Liam Fox has announced that small businesses can now access government-backed export finance directly from their banks, boosting UK trade.

UK Export Finance (UKEF), the UK’s export credit agency, has launched a new partnership with 5 major high street banks allowing smaller businesses to access millions of pounds in government-backed trade finance directly from their bank in seconds.

UKEF, as part of the Department for International Trade, provides financial support to help UK companies sell to international customers. This new partnership with Barclays, HSBC, Lloyds, RBS/NatWest and Santander, announced by Liam Fox in July, comes as the Board of Trade met for the first time last week (12 October).

To learn more about the partnership, please click here
US Commercial Service
The US Commercial Service is the trade arm of the US Department of Commerce's International Trade Administration. Their trade professionals in more than 100 US cities and 75 countries are available to help US companies get started in exporting and can help UK companies establish a presence in the US.

Learn more about BABC
If you are  interested in joining BABC at one of our 22 chapters spanning the UK and North America, please get in touch with your local chapter. More information can be found at www.babc.org 

To stay up to date on Brexit, Trade and other issues relevant to the transatlantic business community, follow us on Twitter @BABPolicy and @BABCTrade and join our LinkedIn Group Global Trade and Investment .