ÐßÐßÊÓƵ has submitted a response, written in consultation with our members, to the .

The letter encourages the UK Government to reconsider the exclusion of food and drink manufacturing from the scheme, particularly in light of ongoing energy cost pressures and broader industrial competitiveness concerns affecting the sector.Ìý

Read our response here.

ÐßÐßÊÓƵ (ÐßÐßÊÓƵ) has today published its one-year review of the UK-US Economic Prosperity Deal (EPD), concluding that while the agreement has delivered progress in areas such as pharmaceuticals and aerospace, delivery across the wider agenda has been uneven and uncertainty continues to weigh on businesses.

Signed on May 8 2025 by President Trump and Prime Minister Starmer, the EPD was intended to strengthen the transatlantic economic relationship following the introduction of US ‘Liberation Day’ tariffs. The review highlights progress in pharmaceuticals, including the UK-US agreement securing tariff-free access for UK pharma exports, alongside the removal of aerospace and whisky tariffs, the implementation of the auto tariff quota, and improved market access for UK beef exporters.

However, ÐßÐßÊÓƵ warns that large parts of the deal remain unresolved, particularly around steel and aluminium, digital trade, mutual recognition agreements and other wider non-tariff barriers. The report also emphasises that repeated shifts in US trade policy, including the recent court ruling striking down tariffs imposed under emergency powers, followed by new tariff measures under Section 122 and expanded Section 232 investigations, are creating ongoing uncertainty for businesses on both sides of the Atlantic.

The review follows a year of intense UK-US engagement, including two state visits and a series of announcements on trade, investment and economic cooperation. ÐßÐßÊÓƵ says these moments have reinforced the importance of the transatlantic relationship, but suggests that beyond the headlines, there needs to be more consistent delivery for business if the EPD is to fulfil its wider ambitions.

ÐßÐßÊÓƵ CEOÌýDuncan EdwardsÌýsaid:

“Over the past year, we’ve seen real momentum in the UK-US relationship, with major progress in areas like pharmaceuticals, aerospace and investment pledges. The two state visits have also reinforced how important this partnership remains on both sides of the Atlantic.

“But while there have been genuine successes, delivery across the wider Economic Prosperity Deal has been uneven. In too many areas, businesses are still waiting for clarity on tariffs, regulation and implementation.

“The recent court ruling on tariffs was welcomed by business, but the shift toward alternative tariff tools and continued Section 232 investigations means uncertainty remains a real concern. Businesses want predictability and that is still missing in several important areas.�

As the leading transatlantic business organisation, ÐßÐßÊÓƵ will continue to monitor and evaluate every commitment in the EPD. ÐßÐßÊÓƵ urges both governments to ensure progress remains on track and helps deliver tangible benefits for transatlantic businesses.

“We should all raise a glass to the removal of whisky tariffs after this week’s successful state visit.

“This is really positive news for producers on both sides of the Atlantic –Ìýfrom Scotland to Kentucky. The sector has faced real uncertainty and frustration throughout the negotiation process, so today’s decision will come as a welcome relief.

“We hope to see both governments build on the goodwill from this visit to keep UK-US economic cooperation moving forward and resolve remaining tariff barriers.”

ÐßÐßÊÓƵ CEO Duncan Edwards said the state visit by King Charles comes at an important moment for the US-UK economic relationship.

Reflecting on a year of tariff uncertainty, ÐßÐßÊÓƵ CEO Duncan Edwards said:

“One year on from ‘Liberation Day’, tariffs have added friction to transatlantic trade. Businesses have faced higher costs, disrupted supply chains, and the challenge of adjusting to shifting trade rules.Ìý

“The past year has also made clear that tariffs are unlikely to be a passing disruption. Businesses shouldÌýassume they will remain an enduring feature of US trade policy. Looking ahead, businesses should factor in the cost of tariffs as part of their exporting plans to the US and adjust accordingly, and assess whether exporting or manufacturing locally is their best option. Ìý

“Despite the shifts in US trade policy, the transatlantic economic corridor remains resilient and the US remains amongst the most robust economies in the world. Trade flows have continued to rise over the past year, even in a more uncertain and complex environment.�

Leading US and UK defense companies will meet UK Minister of State for Defence Readiness and Industry,ÌýLuke PollardÌýMP, in Washington DC today to discuss opportunities to strengthen bilateral defense cooperation, and highlight the importance of setting out clear defense spending commitments to secure long-term investment in the UK.

The meeting coincides with the release of a new ÐßÐßÊÓƵ (ÐßÐßÊÓƵ) report,ÌýPartnering for the Future: Priorities for US-UK Defense Cooperation in an Evolving Global Security Environment, which sets out a roadmap for deepening transatlantic defense cooperation and investment to meet the realities of the future battlespace.

Against a backdrop of heightened geopolitical instability and a complex global threat environment, the report identifies areas where US-UK defense cooperation should be strengthened to maintain military advantage, enhance resilience and leverage the scale, innovation and investment capacity of defense companies on both sides of the Atlantic.

The report, which draws on input from leading US and UK defense companies, prioritises the following four areas:

• • Strengthening the defense industrial base, particularly on streamlining procurement, building interoperability, and securing supply chains
  • Deepening collaboration on advanced air, land, and sea technologiesÌýto maintain a competitive edge in an increasingly technological battlespace
  • Enhancing cooperation on space and cyber capabilities, which are defining future warfare
  • Partnering to generate new and diverse sources of energy for defense, as the future battlespace demands more power

The report also highlights that delivering on these priorities requires clear and sustained defense spending commitments on both sides of the Atlantic. In particular, it calls on the UK to release its Defence Investment Plan and honour its pledge to spend five percent of GDP on national security. Industry leaders suggest that without clear procurement and investment commitments, the UK risks losing significant industry investment to international competitors.Ìý

ÐßÐßÊÓƵ CEO Duncan Edwards said:

“The US and the UK have a long history of defense cooperation spanning more than a century, from intelligence sharing to joint military operations, with businesses in both countries playing a critical role in each other’s defense sectors.

“Against a backdrop of geopolitical uncertainty and technological change, the risks we face are more complex and immediate than at any time in recent decades.

“Our report sets out how we can strengthen transatlantic defense cooperation between government and business to ensure we can deliver the capabilities needed for the future.

“That ambition must be backed by sustained investment. Clear defense spending commitments, particularly from the UK, will be essential to securing the investment, innovation, and readiness required to meet these challenges.�

Commenting on the , published today, ÐßÐßÊÓƵ CEO Duncan Edwards said:

“UK steel producers will welcome today’s announcement. It is a logical – if overdue – response to global overcapacity and unfair trade practices, particularly from China.

“Closer alignment with the US on steel policy could also make room for renewed discussions on UK-US tariffs – not just to ease remaining trade barriers, but also to better coordinate responses to global overcapacity and dumping.

“Of course, one of the biggest challenges affecting steel – and many other UK industries – remains the cost of energy. Despite the current turmoil, we encourage the government to explore all options to help reduce the UK’s energy price gap with international competitors.â€�

Responding to the announcement that the UK government will to speed up nuclear delivery, ÐßÐßÊÓƵ CEO Duncan Edwards said:

“ÐßÐßÊÓƵ welcomes the UK government’s decision to reform its nuclear system to reduce costs and accelerate new projects. Affordable energy is essential to the UK’s competitiveness, and nuclear is an important part of that. US companies are already playing an important role in the UK’s civil nuclear ecosystem, and today’s reforms, along with potential collaboration through the UK‑US Technology Prosperity Deal, will help unlock further investment.

“The UK government should now go further and examine every option to address the country’s exceptionally high energy costs. ÐßÐßÊÓƵ recommends a broader review of energy policy that looks at all viable ways to lower costs for business. This is crucial to ensuring the UK remains an attractive destination for transatlantic investment.”

On February 24, 2026, ÐßÐßÊÓƵ convened the latest meeting of the U.S.-UK IP Working Group in partnership with the U.S. Chamber of Commerce Global Innovation Policy Center in Washington, D.C.Ìý

Stakeholders from across ÐßÐßÊÓƵ’s transatlantic network joined the discussion featuring keynote remarks from Adam Williams, CEO and Comptroller General of the UK Intellectual Property Office, and John A. Squires, Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office. Opening remarks were delivered by Kelly Anderson, Vice President, International Policy at the Global Innovation Policy Center, with closing remarks by Daniel Hurley, Policy Manager at ÐßÐßÊÓƵ.

The conversation covered recent UK and EU developments, including the EU Technology Transfer Block Exemption Regulation (TTBER) and UK Transfer Block Exemption Order (TTBEO), EU General Pharmaceutical Legislation, the UK courts’ application of the doctrine of plausibility in patent cases, post-Brexit IP priorities, and next steps following the UK’s consultations on Copyright and AI.Ìý

Participants also discussed collaboration in multilateral organizations such as the World Intellectual Property Organization and the World Trade Organization, including advancing an affirmative IP agenda, the 2026 WIPO elections, and preparations for the WTO’s 14th Ministerial Conference. The meeting concluded with an exchange on third-country collaboration, identifying India, Peru, and South Africa as priority markets for coordinated U.S.-UK engagement.Ìý

Commenting on the meeting, Daniel Hurley, Policy Manager, ÐßÐßÊÓƵ said:Ìý

“Today’s discussion continues the deeply valued collaboration between ÐßÐßÊÓƵ and the U.S. Chamber of Commerce, underscoring the importance of close U.S.-UK cooperation in promoting strong intellectual property frameworks at home and abroad.Ìý

“As governments consider reforms across competition, pharmaceutical, and AI policy, it is critical that the voice of business is heard. We thank our partners at the U.S. Chamber Global Innovation Policy Center, as well as our keynote speakers, for their leadership in advancing this important dialogue.â€�Ìý

Responding to the announcement that a global 15% tariff will be imposed imports to the United States, ÐßÐßÊÓƵ (ÐßÐßÊÓƵ) CEO Duncan Edwards said:

“The new 15 per cent tariff on imports into the US, imposed under section 122 of the 1974 Trade Act means an effective 50 per cent increase in the tariff rate for most UK exporters to the USA which will come into effect on Tuesday 24th February.

“This is clearly disappointing news and begs important questions which the UK team will need to raise with their opposite numbers and for which businesses will be hoping for answers.

“First, will the UK be granted a ‘discounted’ 10 per cent tariff under this new Executive Order in line with the Economic Prosperity Deal? Second, will UK exporters be able to claim back tariffs that have been previously paid and how will that process work? And third, what will happen when the 150 day period allowed by the Act expires?

“It seems to us that the answer to the third point now lies with Congress which will have to decide whether the trade policies promised by this administration during the election become enshrined in law. Given the narrow margins in both houses of Congress a definitive answer looks unlikely, so business would be wise to expect continued uncertainty.”