Welcome to the April BABN Policy and Trade Update.

Over the course of March, significant developments have emerged from the US administration, impacting the transatlantic business landscape. On 18 March, UK Secretary of State for Business and Trade, Jonathan Reynolds MP, made a trip to Washington DC to meet with the US Administration. During his visit, he met with a selection of BAB members, with the discussion focusing on strengthening the US-UK relationship and opportunities for investment and growth.

Tariff developments have also been a focal point over the past few weeks, with the US administration implementing a 25% tariff on global steel and aluminium imports. This move aims to protect domestic industries, but has raised concerns among international trade partners, including the UK. Reynolds' visit underscored the need for exemptions and a balanced approach to these tariffs to support key UK industries. Further tariff announcements are imminent.

Additionally, the potential for some sort of US-UK trade agreement has gained momentum following Prime Minister Keir Starmer's recent visit to the US. In a meeting with President Donald Trump, both leaders expressed optimism about reaching a "real trade deal". We are yet to see what this deal would look like, but the two counterparts are looking to move quickly and swiftly to achieve this agreement as soon as possible.

See below for a breakdown of policy and trade headlines and our published works.

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Tariff Update

March/April 2025

Latest tariff developments: here is a breakdown of the latest developments on tariffs, including tariffs that have already come into force, those that have been paused, and those that are due to come into effect soon.

• Tariffs already in force:
• 25% tariff on global steel and aluminium imports: effective from March 12, 2025.
• 20% supplementary tariff on Chinese imports: increased from an initial 10%.
• Tariffs paused:
• 25% tariff on goods from Canada and Mexico: initially set to take effect on March 4, 2025, but paused until April 2, 2025.
• 10% tariff on Canadian energy exports: paused pending further negotiations.
• Tariffs announced and due to come into force:
• 25% tariff on all goods from Canada and Mexico: scheduled to take effect on April 2, 2025.
• 25% tariff on imports from countries purchasing oil or gas from Venezuela: set to start on April 2, 2025.
• Reciprocal tariffs (matching import duties): the US will impose tariffs equivalent to those levied by other countries on US goods. Scheduled to come into force on 2 April.
• 25% tariff on imported passenger vehicles, light trucks, and key auto parts: effective from April 3, 2025
• Tariffs Retreated:
• Sector-specific tariffs on pharmaceuticals, and semiconductors: initially planned but now foregone.

2 April: this is the date to watch for, as it's the day the announced reciprocal tariffs are supposed to come into force, and these tariffs are due to be imposed on all US's trading partners.



BAB's submission to the MoD Statement of Intent for a UK Defence Industrial Strategy

24 February 2025

BritishAmerican Business submitted a response to The Defence Industrial Strategy Statement of Intent. The cover letter introduces the paper and provides a short summary of the key recommendations BAB members would like to see incorporated into the strategy from the transatlantic business perspective.

Read more: You can read the cover letter here. You can also read BAB’s latest paper: Stronger Together: How US-UK Cooperation Contributes to the Revival of the UK’s Defence Industrial Base here.



BAB's response to Open Consultation on the Strategic Steer to the CMA

6 March 2025

BritishAmerican Business submitted a response to the strategic steer to the Competition and Markets Authority (CMA), which aims to provide support to help shape the UK regulatory environment in a way that better supports investment, innovation and economic growth for businesses and consumers.

Read more: You can read our full submission here.



BAB's Statement of Support for the US-UK Civil Nuclear Collaboration Agreement

10 March 2025

BAB welcomed the publishing of the report on ‘Strengthening the UK/US Special Civil Nuclear Relationship’ undertaken by London-based Stonehaven and DC-based Third Way, which BAB contributed to. The recommendations outlined in the report closely aligned to the topics raised and supported by BAB on transatlantic civil nuclear collaboration.

Read more: you can read our full statement here.



BAB's submission to Lords Select Committee

14 March 2025

The Call for Evidence: the International Relations and Defence Committee undertook an inquiry into the UK’s future relationship with the US. This was an opportunity to evaluate the current state of the transatlantic relationship and make evidence-based recommendations to the UK government about how the relationship can be strengthened whilst simultaneously ensuring it continues to safeguard UK interests in the years ahead. The three areas of interest consisted of: 1) assessing the special relationship; 2) economic relationship; and 3) bilateral relationship and wider international engagement. 

BAB's work: BAB made a submission to this response, which we hope should be made public by the committee soon.



Apply to Attend the 2025 SelectUSA Investment Summit

11-14 May 2025

Overview: The SelectUSA Investment Summit is the highest profile event in the United States to facilitate business investment by connecting thousands of investors, companies, economic development organizations (EDOs), and industry experts to make deals happen.

The 2025 SelectUSA Investment Summit returns to National Harbor, Maryland from May 11 - 14, 2025 to establish new connections and opportunities to grow through investing in the United States.

What to expect:

• Plenary sessions, armchair discussions, panels, academy sessions, pitching sessions, and programs on SelectUSA's traditional agenda.
• Explore the Exhibition Hall featuring hundreds of EDOs, service providers and industry experts.
• Connect with representatives from 50+ states and territories, companies from 90+ markets, industry experts, and government officials to make investment deals happen.
• Gather advice and information from policy and industry experts in 100+ sessions providing actionable instruction on everything from developing a workforce to understanding incentives.
• Form valuable partnerships with industry partners from across the United States.

Get involved: SelectUSA welcomes investors representing international businesses of all sizes that are seeking to establish or expand operations in the United States, as well as U.S. economic development organizations, representatives from U.S. state and local governments, service providers, and associations facilitating direct investment into the United States to apply here.

BABN Transatlantic Conference North Carolina

30 April - 2 May 2025

Overview: The next BABN Transatlantic Conference will be held in Charlotte, North Carolina between Wednesday 30th April and Thursday 1st May. Friday, 2nd May will be the internal meetings for chapter Executive Directors and Board members.

More information: Annually, the British American Business Network (BABN) brings together members of the 20 chapters throughout the US, UK and Canada for a conference. The purpose is to convene high-level business discussions with senior executives and decision-makers, thought-leaders and government representatives actively involved in bilateral trade, investment and business flows between the UK and US.

Sign up here: You can find the link to register here. The conference is expected to reach maximum attendance, so please encourage chapter representatives to sign up soon!