Welcome to the January BABN Policy and Trade Update.

As the year drew to a close, the UK government saw the submission date for its Industrial Strategy Green Paper. BAB released its response to the Green Paper, providing recommendations to support a more internationally competitive UK economy. In the US, President-elect Trump had been busy filling his cabinet positions as he prepares for inauguration day.

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

Shaping the Future: President-elect Trump Assembles Cabinet

As of this month, President-elect Trump has announced nominees for all major Cabinet positions in preparation for his inauguration on January 20, 2025. These appointments are undergoing the confirmation process, and some nominees may face difficult Senate hearings.

• Secretary of State: Marco Rubio
• Secretary of the Treasury: Scott Bessent
• Secretary of Defense: Pete Hegseth
• Attorney General: Pam Bondi
• Secretary of Commerce: Howard Lutnick
• Secretary of Health and Human Services: Robert F. Kennedy Jr.
• Secretary of Housing and Urban Development: Scott Turner
• Secretary of Transportation: Sean Duffy
• Secretary of Energy: Chris Wright
• Secretary of Education: Linda McMahon
• Secretary of Veterans Affairs: Ronny Jackson
• Secretary of Homeland Security: Kristi Noem

Additionally, President-elect Trump has appointed Jamieson Greer as U.S. Trade Representative.

US-UK IP Working Group Letter

2 December 2024

What happened: The second annual US-UK IP was held on October 21st in London and co-hosted by the US Chamber of Commerce and BritishAmerican Business with Adam Williams, Chief Executive and Comptroller General, at the UK IP Office. The meeting highlighted the shared commitment between the US and the UK to intellectual property and provided actionable recommendations to continue to advance IP protection on a global scale. Please find the readout of the joint statement issued here.

What’s next: The US Chamber of Commerce and BritishAmerican Business are coordinating the third US-UK IP Working Group Meeting to be held in Washington, DC in April 2025 that will host a dialogue between with USPTO Deputy Director Derrick Brent and Adam Williams of the UKIPO.

More information: For more detailed information, please contact Shahad Almobarak (salmobarak@babinc.org).

BAB’s Submission to UK Industrial Strategy Consultation

25 November 2024

What it is: The industrial strategy is the UK government’s proposed 10-year plan for the economy. It aims to deliver the certainty and stability businesses need to invest in the high-growth sectors and drive long-term economic growth. The final industrial strategy will be published in spring 2025, alongside the multi-year spending review.

What happened: The UK government recently launched a public consultation on “Invest 2035: The UK’s Modern Industrial Strategy”, aimed at shaping a long-term strategy to drive economic growth, enhance global competitiveness, and attract investment. BAB, representing the transatlantic business community, responded to this consultation, offering insights and recommendations to support the UK’s ambitions. Key recommendations are summarized below:

• Skills
• BAB emphasizes the need to prepare a workforce equipped with the skills required for emerging industries, such as technology, life sciences, and renewable energy.
• Stronger partnerships between government, businesses, and educational institutions are necessary to align training programs with industry requirements.
• Simplified immigration policies and visa pathways are essential for attracting and retaining highly skilled talent from around the world.
• Competition
• BAB highlights the need for policies that support open and competitive markets, ensuring innovation and consumer choice.
• By maintaining competitive tax policies and reducing barriers to entry, the UK can continue to attract significant FDI, particularly from the US.
• BAB advocates for reducing trade barriers and streamlining processes to make the UK an attractive hub for global businesses.
• Special focus on creating a level playing field for SMEs to compete and thrive within the UK and internationally.
• Regulation
• BAB advocates for a regulatory framework that is consistent, proportionate, and predictable to reduce uncertainty and encourage investment.
• Tailored regulatory strategies for high-growth sectors like aerospace, defense, and digital technology are crucial to addressing specific challenges.
• Harmonization with international standards for data privacy and digital trade will facilitate cross-border commerce and innovation.
• Sustainability
• BAB supports embedding sustainability into the industrial strategy, particularly in energy, transport, and infrastructure development.
• Encouraging innovation in areas such as renewable energy, electrification, and carbon capture technologies is key to achieving net-zero targets.
• Tax incentives and funding for sustainable practices will help businesses transition to a low-carbon economy while maintaining competitiveness.

More information: Read BAB’s full response here. For more detailed information, please contact Shahad Almobarak (salmobarak@babinc.org).

Continue reading BAB Policy and Trade Update, January 2025 HERE