The British Chambers of Commerce (BCC) has met with Ambassadors and senior diplomats from countries representing nearly 40% of global trade to discuss economic security and supply chain resilience.
The meeting at the German Embassy in London was a candid discussion on how like-minded countries must band together in the face of a rapidly evolving picture in international trade.
The BCC’s Director General, Shevaun Haviland CBE, Director of International Trade, Steven Lynch MBE, and Head of Trade Policy, William Bain, met with representatives from across the EU and Indo-Pacific.
A key topic of discussion was the trade risk presented by China and the need for a co-ordinated response.
The discussion took place ahead of President Xi Jinping’s visit to Washington for talks with President Trump on Thursday, where the future of the tariff truce, critical-mineral supplies, AI and technology controls will be closely watched.
Speaking after the meeting, Steve Lynch, said:
“There was a range of views expressed around the table but also clear recognition that no open economy can build resilience on its own.
“When it comes to China, we must hold two truths in our heads at once. It faces real domestic economic pressures but has a formidable presence in tomorrow’s growth industries. We are not just competing with China on costs we are in a race against time to gain a foothold in the future global economy.
“Thursday’s meeting between Xi-Trump may lower the temperature, which business would welcome. But a US–China pause is not a UK or European strategy. Competition over industrial capacity, technology and critical minerals will remain. This is managed stabilisation, not a strategic reset.
“There is already an economic shock from China’s dominance in many sectors which is moving up the supply chain of electric vehicles, batteries and advanced manufacturing.
“The response from the UK, the EU and other partners must focus on three things; remaining competitive, critical minerals processing and supply chain diversity.
“Within that context we also need to consider the EU’s Made in Europe agenda which has already got many business leaders in the UK nervous.
“Europe needs greater industrial strength but that cannot be at our expense, it must keep the UK and other trusted partners embedded in shared supply chains.
“We must also recognise that the pandemic and Ukraine war have changed many of the assumptions on which global supply chains were built.
“There is no going back to the world as it was before 2022. On energy and rare earths, we must make choices which reflect the partnerships we know we can rely on for the long term
“That means putting businesses inside the security architecture. There is a gap between national strategy and commercial decision-making as they currently operate to different criteria and objectives.
“Governments can help close this, with long-term procurement opportunities, clearer demand signals and better shared intelligence.
“Improving resilience does not mean self-sufficiency or protectionism; it is the freedom to choose under pressure. ‘Made in Europe’ cannot stop at the Channel. The UK brings science, finance, services, advanced manufacturing and deep China expertise to the table.
“There are also clear opportunities to create a new economic security framework through the EU and CPTPP trade bloc, while the BCC’s Trade Accelerator programme can also offer a route to help firms diversify markets and suppliers.”