UK, US to sign $10 billion of economic deals on Trump visit

Britain and the United States will sign greater than $10 billion worth of deals in technology and nuclear projects during U.S. President Donald Trump’s state visit, UK and US officials said Monday.

Trump might be accompanied by a “significant” quantity of U.S. tech CEOs when he meets with British Prime Minister Keir Starmer at his nation residence on Thursday, a senior U.S. official mentioned.

They would come with the heads of chip large Nvidia and ChatGPT-maker OpenAI, U.S. media reported.

“This visit will highlight a new science and technology partnership that will include billions of dollars in new investment,” the U.S. official informed reporters together with AFP.

“We’re looking at more than ten billion, perhaps tens of billions, that will take place. We know for sure that there’s definitely more than 10 but there’s a lot.”

The two international locations can even sign an settlement to velocity up improvement of new nuclear energy initiatives, the UK authorities mentioned.

The partnership guarantees sooner regulatory approval and a number of other new private-sector funding deals for nuclear initiatives, because the UK strives to meet net-zero carbon emissions and vitality safety targets.

Under the settlement, Britain and the United States will use one another’s security assessments on new reactor designs, a transfer anticipated to minimize the time to acquire a nuclear undertaking license to two years from three or 4 years.

Starmer mentioned the partnership set the UK “on course to a golden age of nuclear”.

The two international locations can even unveil “advances in defence technology cooperation” and connections between their high monetary hubs, U.S. officers mentioned.

Trump arrives in Britain late Tuesday for a historic second state visit.

King Charles III hosts him at Windsor Castle on Wednesday earlier than Starmer welcomes him to his Chequers residence on Thursday.

A U.S. official mentioned there can be “significant attendance by several CEOs of American tech companies” who have been anticipated to take part at a enterprise roundtable at Chequers.

The tech investments come regardless of tensions between the Trump administration and Britain over London’s digital tax.

Trump has threatened new tariffs on firms seen as focusing on U.S. tech corporations.

The nuclear deal in the meantime comes as Britain refocuses on shoring up nuclear energy because the begin of the battle in Ukraine, saying it’s wanted for vitality safety and dealing with a fleet of ageing energy stations.

Britain mentioned the partnership agrees to “eliminate any last dependencies on Russian nuclear material by the end of 2028 — further squeezing (Russian leader Vladimir) Putin out of the energy market”.

Several business deals have been additionally introduced Monday, together with between US agency X-energy and British Gas proprietor Centrica to construct up to 12 superior modular reactors in Hartlepool, northeast England.

U.S. agency Holtec, France’s EDF and British agency Tritax are set to develop information centres powered by small modular reactors, which intention to minimize the prices and complexity of constructing nuclear energy stations.

The partnership additionally consists of enhanced cooperation on experimental programmes for nuclear fusion, a expertise aimed toward offering emissions-free electrical energy with out nuclear waste.