Mars
(UK)
Click here to download the 2023/24 Policy Agenda
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Click here to download the 2021/22 Policy Agenda
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Mars
Amazon
ACCA
(UK)
MSD
(UK)
Amazon
(UK)
(US)
3M
(UK)
Mars
(UK)
Suntory Global Spirits
(UK)
Standard Chartered
(US)
Rolls Royce
(UK)
Hogan Lovells
(UK)
American Express
(UK)
Eli Lilly
(UK)
AmexGBT
(UK)
Bain & Company
(UK)
NBC Universal
(UK)
Diageo
(UK)
Caterpillar
(UK)
InterDigital
(UK)
Drax
(UK)
BP
(US)
Magrath Sheldrick
(UK)
BT Group
(UK)
AstraZeneca
(US)
IBM
(UK)
Citigroup
(UK)
Diageo
(UK)
Citigroup
(US)
BT Group
(UK)
Caterpillar
(US)
Chevron
(UK)
ACCA
(US)
InterDigital
(EU)
Caterpillar
(US)
Hogan Lovells
(US)
AmexGBT
(US)
Pearson
(UK)
The US and the UK have gone different ways when it comes to global trade. While the UK has set out an ambitious trade agenda, which includes reaching new trade agreements with various parts of the world, the US’s trade agenda focuses much more on a domestic program to defend global competitiveness. Both are welcome but should not be exclusive.
Where both the US and the UK are aligned is in their ambition to create a better, fair, and international trading system that promotes inclusive economic growth and reflects values at home. This can be a starting place for more transatlantic collaboration toward a free and open trade agenda.
In that regard, we welcome the ambition to reduce trade irritants such as the WTO Large Civil Aircraft dispute that was suspended earlier this year. We also welcome efforts to help strengthen and use multilateral platforms to address policy issues that go beyond the US and UK borders, such as reforming the World Trade Organization (WTO).
On the US-UK front, we strongly support – in the absence of a comprehensive FTA – efforts to strengthen collaborations in specific areas, such as technology or science. In that regard we welcomed the UKUS Science and Technology Agreement that was announced in June 2021. Yet, to advance and show commitment to a free trade agenda, it is important that US-UK discussions continue, building on the progress made during the 2020 US-UK trade talks.
1. We propose the creation of a new US-UK economic agenda, that identifies and defines a
specific set of key transatlantic issues on which both the US and the UK could make progress
in the near future.
2. As part of that, we propose the establishment of a new trade platform – a US-UK Trade
Council – that serves as a formal mechanism for the US and the UK to engage on traderelated issues in a coordinated way. We propose the following working tracks for the US-UK Trade Council:
a. Extended support platforms for Small and Medium-sized Enterprises (SMEs), building
on the work being done as part of the FTA negotiation and the US-UK SME Dialogue.
b. Further collaboration and cooperation on tech, mirroring focus areas of the US-EU Trade
and Technology Council (TTC). Areas where joint action is required include supporting collaborative research and development, working to address the global chip shortage,
or creating incentive programs for electric vehicles.
c. Setting parameters for how to leverage trade policy to protect the environment and
tackle climate change.
d. The establishment of a post-Privacy Shield cross-border data flows mechanism between
the US and the UK.
e. Facilitating business travel between the U.K. and the US by reducing visa-processing
times and by establishing specific programs that allow for workers in key professions to
spend extended times across the Atlantic.
f. Strengthening US and UK global leadership through multilateral platforms to address
global issues, such as global tech standards development, digital trade, or supply chain
resilience.
3. In addition, we encourage the UK to define an overarching and detailed trade strategy
that sets out priorities and principles to apply to all trade negotiations, reflecting the UK’s
strengths and the priorities of its stakeholder communities.
4. Finally, we call on both the US and the UK to continue efforts to end tariff disputes and
to explore additional areas where progress on bilateral trade and investment can be
made, such as in digital trade, the mutual recognition of standards, or customs facilitation