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Welcome to BABN’s Policy and Trade Update, a recap of notable events last month.
It has been a dynamic start to 2023. Congress elected new Speaker of the House Kevin McCarthy after the 15th ballot; Chris Skidmore's Net Zero Review Report 'Mission Zero' was published in the UK; and representatives across business, politics, civil society, and media attended the annual World Economic Forum meeting in Davos. In recent trade news, the UK's state-level engagement in the US continues as the inaugural working group between the UK and North Carolina took place.
In the past month, BAB has also contributed to discussions regarding the proposed Foreign Influence Registration Scheme within the UK's National Security Bill, Russian sanctions, and wider government engagement across the Atlantic on commercial issues including the life sciences sector.
Read on for a recap of the policy and trade headlines of January 2023!
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REPRESENTATION ACROSS THE US AND UK HEADED TO DAVOS, SWITZERLAND
January 16-20, 2023
Representatives across the US and UK governments headed to Davos for the annual World Economic Forum meeting between 16 and 20 January under the theme "Cooperation in a fragmented world". Secretary of State for International Trade Kemi Badenoch and Secretary of State for Business, Energy, and Industrial Strategy Grant Shapps attended on behalf of UK PM Rishi Sunak whilst the US delegation included senior figures USTR Ambassador Katherine Tai and Special Presidential Envoy for Climate John Kerry.
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FOREIGN SECRETARY JAMES CLEVERLY MEETS WITH SECRETARY OF STATE ANTONY BLINKEN IN DC
January 17, 2023
Foreign Secretary James Cleverly met with US Secretary of State Antony Blinken in DC in an intensive round of diplomatic talks to encourage international cooperation and support for Ukraine as we approach the second year of conflict. The purpose was to deepen diplomatic, trade, intelligence and security ties in relation to the war in Ukraine. Cleverly then met with the Canadian Foreign Secretary in Toronto to stress the 3 allies must stand united in providing Ukraine with the support to win the war.
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UK Net Zero Review Published
January 16, 2023
This January, Chris Skidmore MP, Chair of the Net Zero Review and Former Energy Minister, published 'Mission Zero,' outlining a series of recommendations for the successful implementation of the government's Net Zero Strategy.
BAB hosted a virtual roundtable with Chris Skidmore ahead of the publication of his report to offer a transatlantic business perspective.
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Congressional Updates
January 19, 2023
Developments in January to note:
- New committee assignments, including the re-appointment of Reps. Marjorie Taylor Green (R-GA) and Paul Gosar (R-AZ) to House committees.
- New Ways and Means Chair Jason Smith, meanwhile, has outlined his agenda which will include a heavy focus on cutting government spending and bringing downs the debt, while Rep. Adrian Smith (R-NE) has been named Chairman of the Trade Subcommittee.
- The “rules package” promised by McCarthy as a concession to Freedom Caucus Republicans was approved last month, reforming how the Republicans can govern the House. The 55-page document focuses heavily on government debt and spending, making good on Republicans’ promises to (try to) get the debt under control.
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UK Foreign Influence Registration Scheme
After BAB's initial internal alert on FIRS in December, we have been hard at work advocating against a late addition scheme within the National Security Bill.
BAB was pleased to be invited to a briefing with the Home Office to discuss the concerns of our members. To address business concerns, BAB has advocated for the removal of the scheme's Primary Tier, its application towards hostile states only, an exemption for commercial activities, or a broader annual registration for organisations. We continue to remain an active contributor to the discussion and welcome any comments from our members.
Read our most recent briefing on FIRS here.
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Active UK Consultations - International Trade Committee
The International Trade Committee have called for evidence on UK trade sanctions on Russia where the role of DIT regarding trade-related sanctions on Russia, the impact of those sanctions and the effectiveness of the Government's mitigations will be scrutinised.
The committee have also called for evidence on export opportunities and whether UK exporters are able to take advantage of them. this month. The Public Accounts Committee have called for evidence into supporting investment in the UK, focusing on strategy for supporting investment into the UK and , how DIT delivers on its inward investment strategy and its impact.
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DIT North America Roadshow 2023
The Department for International Trade (DIT) North America are taking to the road to visit twelve cities across the UK, where they will offer presentations and interactive sessions to help you understand the opportunities in the US and Canada. Roadshow sessions will offer updates on our trade negotiations with the US and Canada, including UK-US State MOUs and the economic outlook for all 3 nations. The DIT team and a range of experts will provide key information and guidance to help your export journey.
Register for single sessions or for a full day here.
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DIT Export Academy
DIT welcomes SMEs to sign up for the UK Export Academy, a free, hybrid training programme designed for any UK business with a product or service that can be sold internationally. From introductory sessions to specific sector workshops, the UK Export Academy has hours of content available for all SMEs across the UK. BAB supports the work that the UK Export Academy does and encourages SMEs in our network to sign up for increased support when looking to have a transatlantic set up.
For more information, read here.
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Meeting with SelectUSA
February 13, 2023
BritishAmerican Business will be meeting with Bill Burwell, Deputy Executive Director for SelectUSA, along with members of the Commercial Service at the US Embassy. The meeting is an opportunity to hear more about SelectUSA from Bill Burwell and the US Embassy Commercial team, as well as to share the expansion plans and ask questions about investment in the US.
SelectUSA is a US government program led by the Department of Commerce that focuses on facilitating business investment into the US and raising awareness of the critical role that economic development plays in the US economy.
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Thank you for reading our 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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