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Welcome to the BABN’s first Policy and Trade Update of 2022.
The start of the new year was accompanied by changing customs rules for goods moving between the EU and Great Britain, encouraging progress on the Section 232 tariff dispute, and easing Covid-19 travel restrictions. Also included below are key updates for transatlantic trade and investment, including new guidance for businesses from BEIS, and updates on new rules under the National Security and Investment Act.
The events and initiatives in the wider BAB Network have ramped up again after the holidays, reflecting many of the key priorities of our members, including a focus on sustainability, diversity and inclusion, and current policy developments on both sides of the Atlantic. See below for additional information and upcoming events.
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Progress on Section 232 Tariffs
19 January 2022
The US and UK announced the start of bilateral discussions aimed at addressing the US’s use of Section 232 tariffs on British imports and the UK’s retaliatory tariffs on US goods. The announcement was made in a meeting between UK Secretary of State for International Trade Ann-Marie Trevelyan and US Commerce Secretary Gina Raimondo earlier this month, during which the two governments also discussed global steel and aluminium excess capacity—driven in large part by China—and emphasised the importance of the US and UK’s shared values. The announcement follows shortly after the US and the EU agreed to suspend steel and aluminium tariffs.
The progress made this month between the US and UK is a positive sign for the transatlantic business community. BAB has long opposed the application of punitive tariffs, which act as barrier in the important trade and economic relationship shared by the US and UK. We welcome the commitment to dialogue voiced by both governments and look forward to a speedy and constructive resolution to the Section 232 dispute.
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UK International Trade Secretary Visit to US
05 December 2021
UK Secretary of State for International Trade Ann-Marie Trevelyan embarked on her first official trip to New York and Washington D.C. at the end of last year. During her trip, Secretary Trevelyan met with senior investors in New York in a follow up to the progress made at the Global Investment Summit last year, as well as with US Trade Representative Katherine Tai and US Commerce Secretary Gina Raimondo to discuss deepening ties between the two countries, WTO reform, and a shared approach to addressing market distorting trade practices.
Minister of State for Trade Policy Penny Mordaunt also travelled to the US, visiting government and business stakeholders across California, Georgia, South Carolina, Tennessee, and Oklahoma.
BAB was fortunate to host Minister Mordaunt, along with members of our Policy Group, for a pre-departure briefing to discuss priorities in transatlantic trade and investment. We look forward to supporting the Department for International Trade's ongoing work to strengthen the UK's ties with states across the US.
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UK Eases Travel Restrictions
24 January 2022
In an announcement made this week, the UK Government laid out changes to travel restrictions including the removal of all testing requirements for fully-vaccinated travellers as of 11 February 2022. Unvaccinated arrivals will be required to take a pre-departure test and a PCR test within two days of arrival into the UK. All arrivals will still be required to complete a passenger locator form.
This decision follows a gradual easing of UK travel restrictions in the new year; the Government previously announced the UK would no longer require a evidence of a pre-departure test for arrivals into the UK.
For the past two years, our community has advocated for the resumption of safe, unhindered travel across the transatlantic corridor, and we now welcome the UK Government’s decision to simplify existing travel regulations. Stay up to date on the current travel requirements here.
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Changing Customs Rules
01 January 2022
As many businesses will be aware, full customs controls for goods moving between the UK and EU (except from Ireland) took effect on January 1 of this year. Businesses importing from the EU are no longer able to delay import customs declarations but must make declarations and pay required tariffs at the point of import.
Additional checks will be required later this year, including physical checks on sanitary and phytosanitary goods and a requirement for full safety and security declarations for all imports. More information can be found here.
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Guidance for Businesses from UK BEIS
01 January 2022
The UK Department for Business, Energy and Industrial Strategy (BEIS) has launched a new programme of engagement and guidance to assist businesses comply with the UK’s new regulatory regime for manufactured goods.
From January 1, 2023, the UK’s new product conformity marking will be required for goods being placed on the market in Great Britain. In preparation for these changes, BEIS has created additional support and guidance for businesses which are available here. Also stay tuned for upcoming webinars which will cover what you need to know in order to prepare your business for changing product certification system.
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New Rules Under National Security and Investment Act
04 January 2022
The National Security and Investment Act came into force in the UK on 04 January 2022.
The legislation allows the government to review and intervene in business transactions in order to protect national security, while also ensuring certainty and transparency for businesses and investors in the UK.
For guidance on the new rules, view the resources and information provided by the UK Department for Business, Energy & Industrial Strategy.
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Events & Initiatives in the Network |
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The Biden Administration's First Year: Multilateral Tax Agreements, Landmark Legislation, Climate and COVID Challenges
31 January 2022
After the first year of the Biden Administration, BAB brings together a panel of commentators and experts to review the policies of the past 12 months and their impact on the US economy. Join BAB for a comprehensive overview of the past year’s including a look at key developments in tax policy, politics, and business. More information can be found here.
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Brit Events Northwest - Tax, Immigration, and UK Pensions for Expats
01 February 2022
Join BABC Pacific Northwest for a virtual event information for expats on topics ranging from tax planning, immigration status, pensions, and current and future finances. The event will feature and expert panel including Moses Man, President and owner of M Squared Tax PLLC, Emma Cockerton, CEO of Florin Pensions LLC, and Tahmina Watson, founder of Watson Immigration Law. For more information or to register, visit the event website.
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BAB Accelerate: An Insider's Guide to Expanding into NYC
09 February 2022
Join BAB, along with Accelerate Series sponsor JetBlue, and session sponsor Capalino, for an interactive discussion on expanding your businesses into NYC. Hear from a qualified businesses leaders on how to build your in-bound strategy, the New York business and political landscape, as well as pandemic-related considerations. More information on the session can be found here.
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Start-Up Business Surgery: Ten Top Tips for New Businesses
28 January 2022
Join the Greater Birmingham Chambers of Commerce for an interactive virtual workshop aimed at supporting start up businesses through a range of critical start up elements, including marketing, staffing, or scaling up. Hear from speaker Ian Preston, business coach and trainer, on practical strategies to implement in your business. To find more information or register for the event, visit the event page.
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Breakfast with the US Embassy
23 March 2022
The Greater Birmingham Transatlantic Chamber of Commerce is hosting a breakfast event with the U.S. Embassy this March. Rosemary Gallant, the Minister Counselor for Commercial Affairs at the U.S. Embassy in London and Gus Franklyn-Bute, Senior Regional Investment Advisor will be highlighting their most active sectors, recent trade trends and inform businesses of the upcoming 2022 SelectUSA Investment Summit. More information can be found here.
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Thank you for reading this month's Policy and Trade Update. If you have any feedback or comments please contact us.
BAB participates in and offers policy and trade support to the BritishAmerican Business Network, a group of over 20 independent trade organisations across North America and the UK. If you would like to learn more about the network and its activities, please visit our website.
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