On this 4thof July, Britain was also celebrating. The first country to secure a trade deal with the Trump Administration, the U.K. can indeed celebrate the so-called Special Relationship.

But what exactly is in the deal?

For starters it’s not a free trade agreement in the traditional sense. Rather, it’s more like a starter pack, with both sides making certain commitments, while leaving most of the details to be worked out later. But understanding what’s been agreed so far, and what’s still yet to come will help transatlantic companies position themselves in this new normal.

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Photo of Alexander H. Schaefer Alexander H. Schaefer

Alexander H. Schaefer is a partner in the International Trade Group at the firm’s Washington, D.C. office. Alex represents clients contending with U.S. import regulations, including the customs and trade remedies laws. He assists clients with a broad range of Customs issues, including

Alexander H. Schaefer is a partner in the International Trade Group at the firm’s Washington, D.C. office. Alex represents clients contending with U.S. import regulations, including the customs and trade remedies laws. He assists clients with a broad range of Customs issues, including tariff classification, import valuation, focused assessment audits, penalty proceedings, prior disclosures, reconciliation, special duty programs, and free trade agreements. In addition, Alex has represented both petitioners and respondents in a variety of trade remedy cases, including antidumping, countervailing duty, and Section 201 proceedings before the U.S. Department of Commerce, the U.S. International Trade Commission, the U.S. Court of International Trade, and the U.S. Court of Appeals for the Federal Circuit.

Alex is a member of the International Trade Group’s duty recovery team, which helps companies identify opportunities to minimize import duty outlays and cut supply chain costs to increase profitability. Alex also works closely with the firm’s Product Risk Management Group, which helps clients in a broad range of industries identify potential legal risks associated with new products and ventures as well as providing advice on risk management tactics and protocols.

Alex is a member of the bars of the Commonwealth of Virginia and the District of Columbia.

Photo of Nicola Phillips Nicola Phillips

Nicola Phillips guides her clients in all areas of commercial litigation. From providing crisis management and legal advice to clients facing cyberattacks to pursuing injunctive relief for victims of fraud, Nicola’s practice has a strong focus on urgent and critical support.

Nicola has

Nicola Phillips guides her clients in all areas of commercial litigation. From providing crisis management and legal advice to clients facing cyberattacks to pursuing injunctive relief for victims of fraud, Nicola’s practice has a strong focus on urgent and critical support.

Nicola has a diverse practice, advising on all aspects of civil litigation, and vast experience with high court litigation as well as alternative dispute resolution. She manages large compliance investigations and has experience acting for both regulators and large financial institutions responding to governmental enforcement enquiries. Nicola also has significant experience with large, complex civil frauds and regularly obtains injunctive relief to assist with asset preservation. Her other practice areas include asset-based lending, trade finance, infrastructure, energy, insurance, and employment-related disputes.

Photo of Lauren Blanchard Lauren Blanchard

An associate in Dispute Resolution in Crowell & Moring’s London office, Lauren Blanchard is esteemed by her clients as “an invaluable asset to any case.” Her strategic and actionable legal advice, strong work ethic under pressure, and collaborative approach has led her to

An associate in Dispute Resolution in Crowell & Moring’s London office, Lauren Blanchard is esteemed by her clients as “an invaluable asset to any case.” Her strategic and actionable legal advice, strong work ethic under pressure, and collaborative approach has led her to handle numerous high value, high profile cases involving multiple jurisdictions and complex issues.

She regularly represents multinational corporates, sovereigns, international institutions, and executives across a range of industries, including automotive, aerospace and aviation, banking and finance, insurance, construction, energy, oil and gas, mining, shipping, and transport.

In English litigation, she has acted at all stages of proceedings, often on an expedited basis, in the Commercial Court, Technology and Construction Court, Court of Appeal, Supreme Court, and Competition Appeal Tribunal.

In international arbitration, she has acted in commercial, construction, and investor state disputes under major institutional rules, including ICC, LCIA, SIAC, UNCITRA, and ICSID.

She also advises on U.S. litigation, particularly when the facts of the dispute concern events outside the United States.

In her pro bono practice, she has submitted multiple amicus curiae briefs in U.S. courts, represented individuals in English courts and the European Court of Human Rights, and mentored prospective law students from low income backgrounds.

Before joining Crowell, Lauren practiced dispute resolution in London and Washington, D.C. at another international law firm.

Photo of Sophie Davis Sophie Davis

Sophie Davis is an associate in Crowell’s London office and advises clients on a range of sanctions, export controls, and trade compliance matters. Sophie has particular experience advising multinational corporations and financial institutions on how to comply with rapidly evolving trade and financial

Sophie Davis is an associate in Crowell’s London office and advises clients on a range of sanctions, export controls, and trade compliance matters. Sophie has particular experience advising multinational corporations and financial institutions on how to comply with rapidly evolving trade and financial sanctions across a range of EU and UK sanctions regimes, assisting corporate clients with complex sanctions issues arising from their continued operations in, or divestments from, Russia, and supporting clients with licensing applications and responding to investigations.

Sophie also assists companies on compliance with anti-bribery and anti-money laundering laws, foreign direct investment requirements, human rights, environmental and sustainability regulatory requirements. Prior to joining Crowell & Moring, Sophie worked in the international trade and regulatory team in another top international law firm, based in London, as well as for a leading New Zealand law firm.