The latest on the CBI's work following the US tariff announcements and how preparations are shaping up for this year's B7
So much has changed in the geopolitical landscape since last month's trade and international update. Tariffs announced by the US on 2 April, subsequent U-turns, and various escalations have caused chaos in the global economy. The uncertainty has also resulted in the International Monetary Fund warning last week that the UK will be among the hardest hit by the global trade war. Now more than ever, a measured approach from government and a united voice of business will be important for navigating the choppy waters ahead.
US-UK Trade
As the situation unfolded on Trump's 'Liberation Day', the CBI was supporting members with explainers, analysis, and media appearances. Our message to the government continues to be very clear: there are no winners in a trade war. This is a message we have continued to feed in at every level - from the Chancellor to working level officials in DBT - on behalf of members. We have also been sharing members' insights on a rolling basis with government officials, helping to steer their response and shape their negotiating stance as they move at pace to finalise an economic deal with the US.
Rain Newton-Smith, CBI Chief Executive, and Sean McGuire, CBI International Director, will be stopping in Washington on their way to the B7 in Ottawa next month, meeting with key US stakeholders to share members' concerns and priorities for a strong bilateral relationship. Do get in touch with Erin Henwood if you have thoughts you would like them to raise.
Preparations for this year's B7
Preparations are now nearly complete for this year's B7, hosted by the Canadian Chamber of Commerce - our Canadian sister federation. Given the wider geopolitical context, this will be an important moment for the business community to press the G7 on issues of free and fair trade, climate change, and AI adoption and technological transformation. Indeed, with the the Canadian elections taking place yesterday, it will be an interesting time to see how Prime Minister Carney will navigate tensions with the US and relationships with other like-minded partners like the UK.
