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Welcome to the BABN’s July Policy and Trade Update.

This month, we celebrate the official announcement of the Transatlantic Conference of the wider BritishAmerican Business Network. The Conference, the first major one in person since 2019 in Birmingham, UK will be hosted by the BABC Chapter in Ohio. We also highlight the release of BritishAmerican Business’ annual Transatlantic Confidence Index; a major reference for governments and business stakeholders alike. We acknowledge the success of the Transatlantic Growth (TAG) campaign 2022, which found its successful conclusion at our reception in London, in the presence of UK Secretary of State for Trade, Anne-Marie Trevelyan. We also celebrate another successful transatlantic Memorandum of Understanding (MoU) as part of the #DITStateSide campaign. 

See below for a recap of the policy and trade headlines of July 2022, as well as additional information on upcoming events in the Network.

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BAB & Bain Transatlantic Confidence Index Survey
18 June 2022

US companies operating in the UK have seen their confidence in the British business environment dented by the ongoing impact of Brexit, along with anxieties over a rising corporate tax burden and increasing shortages of skilled labour, according to the latest Transatlantic Confidence Index issued this month by BritishAmerican Business and Bain & Company.

The “progressive impact of the UK-EU split” is the predominant reason for a fall in sentiment seen among US firms in the index. US survey respondents cited this as one of the “most unattractive aspects of doing business in Britain”, with challenges over the UK-EU relationship having persisted, creating heightened political and regulatory uncertainty.

The report emphasises the case for a strong transatlantic trade corridor between the US and UK as trusted partners, with the case for this being underlined at a time of rising geopolitical and economic stresses.

The full report can be read here.
Policy Updates
Roundtable with US Under Secretary of Commerce for International Trade, Marisa Lago
19 July 2022

BAB was delighted to host the US Undersecretary of Commerce, Marisa Lago, on her trip to London for a roundtable discussion at Addleshaw Goddard. The discussion touched on transatlantic data flows, digital trade, and tech, as well as the need for diversity and gender-balance in the workplace. We look forward to hosting future delegations from the US in partnership with our colleagues at the US Embassy in London.
Trade Updates
Transatlantic Growth Reception
7 July 2022

BAB were delighted to host a networking drinks reception in celebration of the 2022 Transatlantic Growth Campaign. The TAG campaign - sponsored by partners HSBC, Delta Airlines, and Virgin Atlantic - showcases companies that have invested in and grown in the US and the UK.

The event this month marked the culmination of the 2022 TAG campaign and featured remarks from the UK Secretary of State for International Trade, The Rt. Hon. Anne-Marie Trevelyan MP.

To find out more about our TAG campaign please visit the TAG website by clicking here.
Signing of Memorandum of Understanding Between the United Kingdom and The State of North Carolina
20 July 2022

In response to the announcement that the British government and the State of North Carolina have signed a Memorandum of Understanding (MoU) on trade and investment, BAB CEO Duncan Edwards said:

“On behalf of our network of chapters and members across the UK and USA, BritishAmerican Business is pleased to see the signing of a Memorandum of Understanding on trade and investment between the United Kingdom and the state of North Carolina.
The UK and USA have an outstanding trade and investment relationship but there is always more that can be done to make it better. Agreements such as this are helpful in creating ways for businesses from both markets to fully understand the opportunities available to them as they plan their expansion across the Atlantic.”
Read the British government’s announcement here.
Events & Initiatives in the Network
Doing Business in the USA Webinar
18 August 2022

Join the Scottish North American Business Council (SNABC) for a a virtual 'whistle-stop' tour of Scotland's top export destination. The webinar will feature business professionals from across the US and Scotland and is an opportunity to get some practical guidance to help you set up, grow and develop your business. Register to attend here.
Transatlantic Conference 2022
7-9 September, Cleveland, Ohio

After three years of waiting, we are thrilled to announce that the Transatlantic Conference, the major annual event of the BritishAmerican Business network is coming back; held on September 7-9 in Cleveland, Ohio.
Expect two days of relevant discussions, workshops, and networking opportunities at exciting places with stakeholders from business, government and academia. More information can be found by clicking here.
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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