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Welcome to the BABN’s June Policy and Trade Update.
The past month has seen continued momentum behind the transatlantic trade agenda, with the fifth US-UK SME Dialogue having taken place in Boston, MA, and legislative efforts to advance US-UK trade negotiations. June also marked the successful launch of the 2022 SelectUSA Summit, the largest Summit yet.
See below for a recap of the policy and trade headlines of June 2022, as well as additional information on upcoming events in the Network.
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Fifth US-UK SME Dialogue
22 June 2022
The US and UK recently held the fifth Small and Medium Sized Enterprise (SME) Dialogue in Boston, Massachusetts, the home of the British American Business Council Of New England (BABCNE). The event brought together small businesses from across the US and UK, as well as representatives from both governments, to discuss some of the most important issues affecting small businesses in the transatlantic economic corridor. The event was also a reflection of the vibrant support infrastructure available in the Boston region for ambitious companies.
We look forward to participating in the next SME Dialogue in the UK this fall, and encourage both governments to work at pace to deliver outcomes which make transatlantic business expansion more accessible to SMEs. You can read BAB's full statement on the SME Dialogue here.
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Senators Introduce Legislation to Advance Trade Negotiations with the UK
22 June 2022
Senate UK Caucus Co-Chairs Rob Portman (R-OH) and Chris Coons (D-DE) have introduced the SPECIAL RELATIONSHIP Act, legislation which would grant the president new authority to secure an up-or-down vote in Congress on a future trade agreement negotiated with the UK.
While the US and UK have not yet resumed Free Trade Agreement (FTA) negotiations, the recent US-UK Dialogues on the Future of Transatlantic Trade are a step in a positive direction. The SPECIAL RELATIONSHIP Act demonstrates bipartisan support in Congress for an FTA and is an encouragement to both governments to continue to seek stronger trade and economic ties.
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UK Introduces Northern Ireland Protocol Bill
13 June 2022
Earlier this month, the UK Government introduced its Northern Ireland Protocol Bill, designed to unilaterally address some of the current issues surrounding the implementation of the Protocol. The EU has taken legal action in response to the UK Government's actions.
In this context, BAB has published a white paper on the UK-EU trade and economic relationship, "Rebuilding the Bridge: Recommendations for a Strong UK-EU Economic Corridor." The paper calls for joint solutions to current trade disputes and outlines some pragmatic recommendations to address current challenges related to labour mobility, customs facilitation, small businesses, and services trade.
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2022 SelectUSA Summit
26 June 2022
This month marked the successful launch of the 2022 Select USA Summit, an annual program run by the US Department of Commerce to promote business investment in the US. Back to an in-person format, this year's program was the largest yet, featuring exciting new opportunities for innovation and entrepreneurship in tech, sustainability, and other sectors.
BritishAmerican Business was present at the Summit, as part of the UK delegation, along with a number of our colleagues from BAB’s Trade Group and wider Trade Stakeholder network, including colleagues from the Mississippi Development Authority, the US Embassy in London, the Missouri Partnership, the Indiana Economic Development Corporation, Paragraf, Springpod, the Economic Development Partnership of North Carolina, the South Carolina Department of Commerce, and the Georgia Department of Economic Development. We look forward to welcoming many of our partners at the Farnborough International Air Show 2022 from July 18th – 22nd.
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DIT Supply Chain Resilience Guidance
June 2022
The UK Department for International Trade has developed new Supply Chain Resilience Guidance, alongside the Centre for the Protection of National Infrastructure (CPNI). These resources are intended to help businesses strengthen their supply chains by mapping them, identifying potential risks, and developing plans to help minimise potential disruptions. See here for additional information.
Further support and resources are also available through the UK Export Academy.
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Events & Initiatives in the Network |
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BABC Georgia Business Breakfast
20 July 2022
Join BABC Georgia for the launch of their Business Breakfast series, along with featured speaker Fred Jewell, Senior Strategic Advisor and Executive Director of Jabian. Learn more about the event here.
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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.
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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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