A Snapshot: UK-US Trade Relations

For further information, visit DIT’s Trade and Investment Factsheet for USA.

Latest News about UK-US Trade:

1. US and western allies promise crackdown on supply chain collusion (23/02/22): https://www.gtreview.com/news/global/us-and-western-allies-promise-crackdown-on-supply-chain-collusion/ 
2. Western nations move to block Russian access to the U.S dollar (20/02/22): https://www.reuters.com/world/europe/west-would-cut-russian-companies-access-dollars-if-ukraine-is-invaded-uks-2022-02-20/
3. Biden plays down post-Brexit trade deal in damaging blow (18/02/22): https://www.independent.co.uk/news/uk/politics/brexit-uk-us-trade-deal-biden-b2018131.html
4. A landmark Revitalization Plan for US Maritime Trade, Commerce and Strategic Competition to support and assist in resolving America’s supply chain crisis, ensure maritime sovereignty and security, and revitalise maritime commerce will be launched at the National Press Club in Washington, DC on February 1, 2022. (25/01/22): https://menafn.com/1103594561/First-United-States-Open-Registry-to-be-Launched-in-Washington-DC
5. US-China investment at risk of slowdown under Senate proposal for greater FDI scrutiny, report says. (26/01/22): https://www.msn.com/en-xl/money/other/us-china-investment-at-risk-of-slowdown-under-senate-proposal-for-greater-fdi-scrutiny-report-says/ar-AAT9mwL
6. The US-China relationship is becoming increasingly adversarial, according to US Secretary of State Antony Blinken who on Monday criticised what he described as a Chinese government that was more assertive and aggressive than was seen in previous decades. (25/01/22): https://www.msn.com/en-xl/news/other/china-us-relations-blinken-says-beijing-is-bringing-more-aggression-to-competitive-and-cooperative-ties/ar-AAT6K7N
7. US shares rebound after Russia-Ukraine tensions hit markets (23/01/22): https://www.bbc.co.uk/news/business-60117433
8. Russia and the US have held talks at a ‘critical moment’ as the possibility for war in Ukraine hangs over Europe. (22/01/22): https://www.msn.com/en-gb/news/world/russia-and-us-hold-crucial-talks-as-full-scale-war-in-ukraine-looms/ar-AAT0Inm
9. The US and UK have begun formal negotiations over Trump-era tariffs on UK steel and aluminium exports. (19/01/22): https://www.bbc.co.uk/news/business-60061265?at_medium=RSS&at_campaign=KARANGA
10. Hong Kong moves to ban UK + US arrivals – ban reflected in US stock exchange (05/01/22): https://www.ft.com/content/ab847413-3118-4ba6-b3ab-76300f1e5754 
11. UK steel industry braces for slump as US lowers tariff on EU trade (30/12/21): https://www.theguardian.com/business/2021/dec/29/uk-steel-industry-braces-for-slump-in-trade-as-us-eu-tariffs-abolished
12. Ministers left ‘begging’ for trade deal with US (15/12/21): https://www.independent.co.uk/news/uk/politics/brexit-us-trade-deal-penny-mordaunt-b1976711.html 
13. US overtakes EU as largest financial services export market (08/12/21): https://www.ft.com/content/0c01673f-dec9-4b25-a937-ba1f85123732 
14. UK and Israel to sign trade deal (28/11/21): https://www.theguardian.com/politics/2021/nov/28/britain-and-israel-to-sign-trade-and-defence-deal
15. Omicron variant creates biggest stock market slump in a year (27/11/21): https://www.ft.com/content/8df04124-c8e7-4c30-b4da-082ea635f308 
16. UK attempts trade deal with individual US states (11/11/21): https://www.cityam.com/uk-to-try-and-close-trade-deals-with-individual-us-states-after-white-house-talks-stall/ 
17. US trade deficit hits $80.9 Bn (04/11/21): https://www.independent.co.uk/news/washington-commerce-department-china-b1951428.html 
18. UK government welcomes US steel statement (31/10/21): https://www.gov.uk/government/news/uk-response-to-us-statement-on-steel-and-aluminium
19. Nevertheless, UK steel makers feel ‘left behind’ by EU-only agreement (01/10/21): https://www.bbc.co.uk/news/business-59113868 
20. US Oil hits $85 a barrel (25/10/21): https://www.ft.com/content/c05f2254-589b-436b-b468-6e25e43b31ae 
21. China’s successful testing of hypersonic missile stuns the US (18/10/21): https://www.thetimes.co.uk/article/china-catches-us-off-guard-hypersonic-missile-test-j79g009x8 
22. United States overtakes China as bitcoin powerhouse (13/10/21): https://www.theguardian.com/technology/2021/oct/14/us-leads-world-in-bitcoin-mining-after-china-crackdown-sends-industry-overseas 
23. US Covid rates drop by 22%, sparking hope worst may be over (11/10/21): https://www.ft.com/content/55a8e7b2-0abb-4eb4-8e82-726dc2ba13e1 
24. Confidence reflected in $870Bn buyback of stock (10/10/21): https://www.ft.com/content/dd9a7b72-1f9b-4b66-ac75-200d1653ce6f 
25. Morrisons: Private US equity firm wins £7B bid for UK supermarket (03/10/21):  https://news.sky.com/story/morrisons-us-private-equity-firm-wins-7bn-auction-for-uk-supermarket-12423755 
26. Boris Johnson urges Bezos to build Rivian electric vehicle plant in the UK (24/09/21): https://news.sky.com/story/johnson-urges-bezos-to-build-rivian-electric-vehicle-plant-in-britain-12416601 
27. UK bails out American fertiliser company to prevent food supply crisis (24/09/21): https://edition.cnn.com/2021/09/22/business/cf-industries-uk-co2-food-shortages/index.html 
28. Banks fund £230B oil and gas pillaging in the Arctic (23/09/21): https://www.cityam.com/drill-baby-drill-arctic-set-for-230bn-oil-and-gas-bonanza-with-jpmorgan-barclays-and-citi-piling-in/ 
29. UK to pin hopes on joining US-Canada-Mexico trade deal (22/09/21): https://www.ft.com/content/b519921f-8d14-4948-9afa-f2340b0d25db 
30. US lifts ban on British lamb (22/09/21): https://www.bbc.co.uk/news/uk-politics-58654045 
31. AUKUS: UK, US and Australia form new security partnership (15/09/21): https://www.gov.uk/government/news/uk-us-and-australia-launch-new-security-partnership 
    • BAE systems set to benefit from deal (19/09/21): https://www.ft.com/content/aa5c9fd5-891b-4680-b3c7-5a55d03f673c 

Haroon Faqir is a Global Leadership Fellow at Polar Research and Policy Initiative. He is part of the PRPI team behind the UK-Arctic Trade and Investment Observatory, and serves as the lead for the US and Finland.