With COP29 still ongoing, the next gathering of world leaders is going to be in Brazil this week, with prime minister Sir Keir Starmer among those travelling for the G20 summit.
The EU continues to wrestle with the economic threat posed by a second Donald Trump presidency, as ministers meet for a discussion about how best to prepare for US tariffs.
The Chartered Institute of Export & International Trade will also be giving members insight into a different kind of threat, as experts discuss cybersecurity risks in trade and how you can minimise these.
Starmer meets Xi
Politico has reported that Starmer could be set to meet Chinese president Xi Jinping during Brazil’s G20 summit this week, amid reports that the government is preparing to reengage on trade.
During his trip to Beijing in October, David Lammy laid the foundations for a one-to-one meeting, which would make Starmer the first UK leader to sit down with Xi since Theresa May in 2018.
The new Labour government has been taking a more conciliatory approach to China since entering office. Although Lammy raised sensitive issues during the trip, such as China’s relationship with Russia and human rights abuses against citizens in Hong Kong and Uyghur Muslims in the Xinjiang region, Labour rowed back on defining the latter as a genocide.
Shortly afterwards, business and trade secretary Jonathan Reynolds said that he was “open” to renewing trade talks with China, considering trade an area where “cooperation is possible with China”.
He added that he was open to reopening the Joint Economic Trade Commission (JETCO) between the UK and China, which was frozen under the Conservatives following measures taken by China against Hong Kong.
Ukraine talks
The Telegraph reported that Starmer would also be pressing for face-to-face meetings with outgoing US president Joe Biden, in order to push for the use of shadow missiles by Ukraine in its defence against Russia’s invasion.
Previously Biden had pushed back against the use of shadow missiles, which would enable Ukraine to hit targets within Russia. However, ahead of the event he reversed his position, authorising the use of US long-range missiles – or the American High Mobility Artillery Rocket System (HIMARS) – by Ukrainian forces.
The FT reports that the change follows the deployment of North Korean troops to Russia, with North Korean and Russian troops stationed in Kursk likely to be the target of any attacks.
The response from Moscow has been swift and unequivocal, with Russian politicians calling the decision “a serious escalation” and “an unprecedented step towards World War Three”. President Vladimir Putin has yet to make a statement.
Western allies have been eager to give as much support to Ukraine as possible before president-elect Donald Trump returns to office in January. Trump has vowed to end the war “in a day”, which has been interpreted as withdrawing military support and overseeing an agreement in which Russia keeps captured Ukrainian territory.
EU on trade
Fallout from Trump’s election will also be front-and-centre at Thursday’s EU ministerial meeting on trade relations with the US. Trump pledged during the election campaign to impose tariffs of up to 20% on all imports.
On Friday (15 November), European Economic Commissioner Paolo Gentiloni warned that such protectionism would be “extremely” harmful to both the US and the EU’s economy.
Describing EU-US trade relations as a “stabilising economic and political force”, he told assembled reporters that EU wants to work with the incoming Trump administration on a “strong transatlantic agenda”.
This followed speculation by Macron and former European Central Bank chief Mario Draghi, during a live discussion at Paris’ Collège de France, that the intention behind Trump’s planned two-tiered tariff rates could be to push the EU further from China.
Considering the rationale behind the measure, Draghi said:
“With a tariff wall ... if you are a friend, you are in. If you are not a friend, you are out. And I am going to judge you on whether you want to be a friend.”
Chartered Institute
This week the Chartered Institute will be offering a taster session of its new Master’s degree programme, designed and delivered in collaboration with Università degli Studi Guglielmo Marconi.
Held on Wednesday (20 November) at 2pm, the half-hour session will give attendees an in-depth overview of the programme modules, as well as the opportunity to pose questions to tutors from both organisations.
There’s also an opportunity for members to learn more about cybersecurity, with the latest instalment of the Lunchtime Learning series on Thursday.
The Chartered Institute’s academic board chair, professor Sangeeta Khorana, will be joined by other experts to discuss best practice for protecting your data, customers and business from cybersecurity threats, as well as why SMEs shouldn’t overlook the risks posed by hackers.
Other dates in the diary
Monday – Greenpeace report on oil and gas taxation released
Tuesday – US-China Economic Security Review Commission annual report released
Wednesday – CPI inflation data released
Thursday – ASEAN Defence Ministers’ Meeting-plus
Friday – UK flash PMI released
Saturday – Las Vegas grand prix
Sunday – Presidential elections held in Romania, run-offs held in Uruguay
