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News BritishAmerican Business Inc Calls For Politics Not to
Get in the Way of Business London – 17 April, 2002 – Today BritishAmerican Business Inc (BritishAmerican Business), the leading transatlantic business organisation, and the British-American Business Council (BABC) wrote a letter to the Rt Hon Patricia Hewitt, MP, Secretary of State for Trade and Industry, calling for restraint in the growing trade dispute over steel. BritishAmerican Business and the BABC represent some 4,000 British and American companies based in 30 cities throughout the US and UK. The EU’s announcement of tariffs on millions of Euros worth of American products, and the prospect of a real trade war, has prompted the organisations to call for action to protect the largest and most important bi-lateral trading and economic relationship in the world. Annual two-way investment between the US and the UK totals more than $270 billion and two-way trade more than $82 billion. The letter, co-written by BritishAmerican Business’s Chairman, Michael Kirkwood, and BABC’s President, Jeremy Davies, expressed the business community’s concerns over the risk of an escalation of trade tensions brought on by the US Administration’s latest tariff-related decision, to impose up to 30 per cent duty on selected foreign steel imports, including those originating from Britain and the rest of the EU. The letter to the Secretary of State for Trade and Industry also urged the US and the EU to observe the World Trade Organisation (WTO)’s rules and structures, as the rows over steel and other issues play out. “Flouting of the WTO’s decisions undercuts not only its legitimacy, but also politicians’ arguments for liberal trade policies,” insisted Michael Kirkwood, Chairman, BritishAmerican Business. “It is important that countries are able to protect their industries, but what is even more important is that they do so within the WTO’s guidelines. Rash unilateralism is as unwelcome as rash responses.” Steel is only the latest example in a series of trade issues that threaten the US-EU economic relationship. “Disputes over beef, GMOs and airline support are all disrupting confidence within the business environment. The US and the EU must recognise the damage such disputes cause to trade and the economy. Care must be taken not to worsen the situation,” said Jeremy Davies, President, BABC. - ENDS -
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About BritishAmerican Business Inc BritishAmerican Business Inc of New York and London (BritishAmerican Business) is the leading transatlantic business organisation, dedicated to helping its 1,000 member companies build and expand their international business. BritishAmerican Business provides its members directly with a range of targeted business services focused on business development, business intelligence and networking, and with access to broader business networks in more than 60 other major cities throughout North America and Europe. BritishAmerican Business incorporates the British-American Chamber of Commerce (New York/London) and the American Chamber of Commerce (UK), which merged in September 2000 to create a stronger transatlantic business organisation. About the British-American Business Council The British-American Business Council (BABC) is the largest transatlantic business organisation, consisting of 32 British-American business associations and more than 4,000 companies in major cities throughout the United States and the United Kingdom, with affiliates in Canada and Mexico. The BABC’s objectives are to support the unique business partnership between the US and the UK; to help its member associations provide business development and business intelligence services to their member companies; and to provide a broader transatlantic business network for its member companies. For further information, please contact:
Emma Abbott BritishAmerican Business Inc Tel: 020 7467 7437 Fax: 020 7495 7828 Email:
eabbott@BritishAmerican Businessnc.org | 
