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The UK Government yesterday launched a trio of major strategies: National Security, Industrial, and Trade – with more detail on the new Trade Strategy below. 

Meanwhile, with the 9 July deadline fast approaching for the end of the US’s 90-day pause on reciprocal tariffs, we’re keeping a close eye on how the “Big Beautiful Bill” is progressing in Congress – and what it means for ongoing trade negotiations with key partners. 

UK Launches First Post-Brexit Trade Strategy 

This morning, the UK Government published its first comprehensive Trade Strategy since leaving the EU. The Strategy marks a significant shift in the UK’s trade approach, prioritising services, digital trade, and resilience amid global economic headwinds. 

Key announcements include: 

• A new Ricardo Fund to unlock up to £5 billion in export opportunities 
• Expansion of UK Export Finance to £80 billion, with new tools for SMEs 
• Strengthened trade defence instruments to protect UK industries 
• A more agile, targeted trade agreement strategy focused on high-growth sectors 

Julian David, techUK CEO, yesterday responded: 

techUK welcomes the launch of this trade strategy as a landmark moment. For the first time, we have a coherent, long-term plan that reflects the realities of current geopolitics and the UK’s unique strengths – particularly in services and high-growth, innovation-driven sectors like ours. It’s especially encouraging to see government pulling together the full suite of tools at its disposal – from digital trade agreements to commercial diplomacy and meaningful trade defence instruments. We look forward to working closely with government to turn this vision into impact and ensure the UK remains a leader in the global digital economy. 

We're pleased that several of techUK’s recommendations from our January 2025 report on growth and resilience are reflected in the Strategy. 

A short announcement is available on our website here. A full analysis will follow in the coming days. We are also engaging with the Department for Business and Trade to confirm a member briefing for next week. 

UK-China Relations: Strategic Rebalancing in Motion 

The UK’s newly published National Security Strategy outlines a renewed yet cautious approach to China. Foreign Secretary David Lammy emphasised that “not engaging with China is no choice at all,” signalling a pivot toward “pragmatic cooperation” in areas aligned with the UK’s growth agenda. 

“China is our third biggest trading partner, and will continue to play a vital role in supporting the UK’s secure growth,” Lammy told MPs. 

While acknowledging risks around cybersecurity and human rights, the UK is preparing to reopen the UK-China Joint Economic and Trade Commission (JETCO) dialogue after a seven-year pause. Key visits are expected: 

• Trade Secretary Jonathan Reynolds might travel to China in September 
• A new British ambassador is due in Beijing the same month 

It also became clear this week that the results of the China audit will not be published publicly. 

Trade Deadlines and Tax Disputes: July 8 Looms 

A flurry of U.S. trade negotiations are building toward a potential inflection point on 9 July, as the U.S. edges closer to finalising its domestic “megabill” – a sweeping tax and spending package. 

Over 60 trading partners face the possibility of reciprocal tariffs up to 50% unless deals are struck by that date. A provision in the bill, known as Section 899, targets countries with digital services taxes, a sticking point in U.S. trade talks with the EU and others. 

While the administration is optimistic about concluding talks soon, congressional divisions may delay progress. 

Data Adequacy  

The European Commission has given itself until 27 December to renew UK’s data adequacy decisions. The assessment process is now under way, following the UK’s passage of the Data Use and Access Bill earlier this month. 

Looking Ahead 

WTO Public Forum Delegation | Geneva | 17–18 September 2025 

techUK invites members to join our delegation to the WTO Public Forum in Geneva. This year’s Forum arrives at a crucial moment for digital trade and ahead of the WTO’s next Ministerial Conference in March 2026.  

Delegation to Washington D.C. | 23–25 September 2025 

Join us in Washington DC, where techUK members will meet senior US policymakers, regulators, and industry leaders during a pivotal period following the UK–US Economic Prosperity Deal. Learn more and sign up via our event page.