Welcome to the October BABN Policy and Trade Update.

September has been a major month for transatlantic engagement, policy, and investment announcements. President Trump’s State Visit to the UK was a diplomatic and economic success, featuring the signing of the Technology Prosperity Deal.

The UK Government completed a Cabinet reshuffle, with new appointments in key transatlantic portfolios. SEC Chairman Paul Atkins also visited London, en route to the OECD in Paris. More broadly, UNGA and Climate Week NYC saw attendance from governments globally, including a strong UK delegation.

Looking ahead, the UK Government prepares for its upcoming International Trade Week in November, offering a week of events to support businesses expand their global footprint, in line with its long-term Trade Strategy, announced earlier this year.

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

President Trump’s State Visit to the UK

17-19 September 2025

What happened: US President Donald Trump concluded a landmark second State Visit to the UK, hosted by King Charles III and PM Sir Keir Starmer. The visit underscored the strength of the transatlantic relationship.

Summary: Trump was welcomed with a carriage procession, military honours, and a State Banquet at Windsor Castle. At Chequers, over £150 billion in US investment was announced, including major commitments in AI, nuclear energy, and infrastructure. The Tech Prosperity Deal was also signed with a goal of deepening collaboration in emerging technologies.

BAB welcomed the investment pledges and looks forward to supporting the initiatives that further entrench the transatlantic corridor.

Read more: See our statement of welcome for the State visit on our website here.

UK Cabinet Reshuffle

5-16 September 2025

Overview: PM Starmer completed the first major reshuffle of his premiership. The reshuffle brings new leadership to several departments central to US-UK cooperation, including foreign affairs, trade, investment, and technology.

Key appointments:

• FCDO: Rt Hon Yvette Cooper MP has become Secretary of State for Foreign Affairs, succeeding David Lammy.
• DBT: Rt Hon Peter Kyle MP has been appointed Secretary of State for Business and Trade and President of the Board of Trade. He is expected to prioritise tech and investment partnerships with the US.
• Office for Investment: Jason Stockwood has been named Minister for Investment, jointly serving in DBT and HMT. Similar to Poppy Gustafsson, he will receive a peerage to sit in the House of Lords for his position.
• DSIT: Rt Hon Liz Kendall MP takes over as Secretary of State, following her position at Work and Pensions. Kendall will lead on AI and quantum – key areas under the new Technology Prosperity Deal.

Additional changes of note:

• Rt Hon David Lammy becomes Deputy Prime Minister and Lord Chancellor (Justice Secretary). He is looking to bring a more international aspect to the Deputy Prime Minister role.
• DBT: Sir Chris Bryant MP has been appointed Minister for Trade, succeeding Rt Hon Douglas Alexander MP.
• Lord Peter Mandelson stepped down from his role as UK Ambassador to the US. No replacement has yet been announced, with James Roscoe MVO acting as Chargé d’Affaires in the interim.

View the full October BABN Policy and Trade Update here