Encouraging Signals On US Trade

28th February 2025

William Bain, BCC Head of Trade Policy, reacts to tonight’s remarks by the US President and UK Prime Minister on tariffs and trade deals

Reacting to tonight’s remarks by the US President and UK Prime Minister on tariffs and trade deals, William Bain, BCC Head of Trade Policy, said:? 

“The signals from the White House tonight would suggest this was a successful meeting from a UK trade perspective. 

“Businesses will be encouraged by the news of ‘productive discussions’. Investment and trade links between the UK and US are balanced, run deep, and are mutually beneficial for jobs, growth, and innovation in both our countries.  

“There is £700bn of US investment in the UK, and £300bn in annual bilateral trade, with services a real success story. 

“But stronger trade with the US does not mean that our relationships with the EU, China and wider Asia-Pacific region must take a backseat. Indeed, the remarks by both leaders suggest UK business is right to have this ambition. 

“Further negotiations on trade and technology mean there is a real opportunity to take the heat out of the uncertainty created by the risk of tariffs on UK exports.  

“Recent research by the BCC Insights Team found that 63% of exporting manufacturers were worried about this threat. Tonight’s meeting can give real hope that this likelihood will now start to recede in the coming weeks. 

“The BCC wants to see tariffs kept low, our technology links improved, and practical outcomes to lower trading costs, including customs, for business on both sides of the Atlantic.  

“This meeting was a highly encouraging first step, although we are not fully out of the woods yet. We look forward to engaging with the UK Government and the US Administration on securing the best possible outcomes in the days ahead.”