UK business leaders praise China supply chain efforts amid US tariffs

Business leaders in the United Kingdom spoke highly of China's efforts in stabilizing the supply chain and sharing opportunities with the world, in contrast to the fresh United States tariffs on steel and aluminum imports that are set to affect trans-Atlantic trade.

The remarks were made on Wednesday during a London roadshow for the third edition of the China International Supply Chain Expo, which will be held in Beijing in July.

"This could not be a more important conference at a more important time," said Sherard Cowper-Coles, chair of the China-Britain Business Council. "It's about promoting supply chains … it's also about sanity in global trade, in making the world safer and more prosperous.

"We need to focus on the global trade that is not affected by the tariffs that will be put up around a certain economy, doing it and others serious damage," said Cowper-Coles, referring to the 25 percent tariffs on steel and aluminum imports to the US that took effect on Wednesday and were met with strong countermeasures by the European Union.

"We are meeting here to encourage you all to attend (the expo), to show off your goods and services, to promote yourselves and your companies, and to make the connections that matter in a sane and sensible and prosperous world," he told the audience of more than 150 representatives from the Chinese and British business sectors attending the roadshow.

Launched in 2023 by China Council for the Promotion of International Trade, the previous editions of the expo have welcomed more than 1,100 major companies along various supply chains, such as manufacturing, agriculture, and healthcare.

The third CISCE will take place from July 16 to 20, featuring exhibition areas dedicated to advanced manufacturing, clean energy, intelligent vehicles, green agriculture, digital technology and supply chain services. Over 200 enterprises have already confirmed their participation.

Yu Jianlong, vice chairman of CCPIT, said British enterprises, including Rio Tinto, AstraZeneca, HSBC, Swire, BP, and British Steel, participated in last year's expo with their supply chain partners, achieving positive outcomes, and he expects more companies from the UK to come this year.

"The business communities in both countries should maintain the resilience of the China-UK supply chains, and contribute to the security and stability of the global industrial and supply chains," said Yu, adding that both governments should work to reduce barriers to bilateral investment, and promote a nondiscriminatory and open business environment.

Jack Perry, chairman of the 48 Group, echoed Yu by saying: "Over 70 years ago, British businesses initiated trade with China amidst global hesitation, understanding that trade transcends transactions. It is about cultivating long-term relationships, building trust, and adapting collectively to change. The principle remains relevant today. "

Perry commended the CCPIT for setting up the expo in 2023, which has become a cornerstone for global discussions on the future of trade and supply chains. "The efforts have been instrumental in fostering international collaboration, ensuring that global trade not only responds to challenges, but navigates them proactively," he said.

In a video speech to the roadshow, Alastair King, the lord mayor of the City of London, said the City of London looks forward to strengthening cooperation with China and fostering deeper collaboration in finance, digital technology, and artificial intelligence. He encouraged more British enterprises to leverage the supply chain expo to expand business networks, explore new cooperation opportunities, and build a stable, efficient, and mutually beneficial supply chain system.

Last year, the 5-day supply chain expo received 160,000 visitors, and facilitated partnerships between exhibitors and some 37,000 suppliers, signing intended cooperation agreements worth around $20 billion.

During the Wednesday roadshow, China International Exhibition Center Group signed participation MoUs with Standard Chartered and AstraZeneca for the upcoming expo.

Wang Qi, charge d'Affaires, China's embassy in the UK, said despite current geopolitical and trade tensions creating uncertainty in global markets, China remains committed to high-level opening-up, aligning with international high-standard trade rules, which demonstrates China's firm commitment to the international community and reflects its strong economic confidence.

"China is ready to work hand in hand with the countries to jointly build an open world economy and share development opportunities, dividends, and success with companies from around the world," he said.