How Can US-UK Deals Boost Future Technologies and Economies?

CGTN Europe

CGTN Europe spoke to Marco Forgione, Director General of the Chartered Institute of Export and International Trade.

Transcript

00:00Well, let's talk to Marco Forgione, the Director-General of the Chartered Institute of Export and International Trade.

00:06Marco, welcome back. Good to see you. How significant are these U.S.-U.K. deals?

00:12This could be a huge event for both the U.S. and the U.K., but of course also for the government as it looks for its Reset 2.0.

00:21the potential billions of pounds of investment in technologies that will fuel the future technologies for the world,

00:32the future industries for the U.K. is really key.

00:35And seeing the business group that are coming with President Trump on his second state visit,

00:42it's clear to see that there is a huge opportunity for the U.K. and Prime Minister Keir Starmer.

00:48Donald Trump set to arrive in London accompanied by, among others, the bosses of NVIDIA, OpenAI, Blackstone.

00:57What does all of that say about his intentions?

01:01Well, it's clear that there are potential billions of pounds of investment in the new technology,

01:06the small modular reactors and the range of modular reactors,

01:10the potential for investments in data centers as well, and the development of, of course, chips.

01:18So, so we anticipate great news here.

01:21And it's news about investments in areas of the U.K. that desperately need it.

01:27You know, investment in tea, potentially investment around Nottinghamshire and in the Thames Gateway.

01:33How would you evaluate the current economic relationship between the United States and the U.K.?

01:41Well, I think there are two elements to that.

01:44First, I think that the relationship between President Trump and Prime Minister Keir Starmer is really close.

01:50And I think that they get on really well.

01:52And that's really important with this president in particular.

01:54The relationship between the individuals is going to be key.

01:58With regards to the economics of this, I think the investment that's being proposed, being talked about,

02:05could really turbo boost the U.K.

02:07as it looks to deliver on both its industrial strategy and its trade strategy,

02:14focused on transforming the U.K. economy, making it fit for future industry.

02:19I'm just wondering if you were sitting in Paris or Berlin or Brussels

02:24and you're watching President Trump's visit, state visit, to the United Kingdom.

02:29I mean, how might this visit and its potential outcome impact both countries' relationships

02:35with Europe and their other international partners?

02:40Well, the reality is, from all the conversations we've had with colleagues in France and in Germany,

02:45it's clear that the U.K. is smarting a bit from the trade agreement that the U.K. managed to reach with the U.S.

02:51with regards to the tariffs, which gives the U.K. a significant competitive advantage with regards to tariffs.

02:58So I think that they'll be looking at what's being discussed, what's announced this week,

03:03and seeing what they can do to try and position themselves to attract that much-needed investment.

03:10What's your take on the sacking of the U.K.'s ambassador to Washington, Peter Mandelson,

03:17who presumably was one of the architects of the relationship with President Trump

03:22and also one of the key figures behind this visit?

03:27I don't think you can talk about what's happened with Lord Mandelson

03:33without recognising the terrible trauma of the young women and girls that were affected by Jeffrey Epstein.

03:42Setting that apart, looking at the relationship that Lord Mandelson had with the administration in Washington,

03:49it's clear that he was an architect of the trade deal

03:53and helping to really build strong relationships between the U.K. and the U.S.

03:59We now have the interim ambassador, who is himself brilliant and will, I'm sure,

04:06take forward in a really positive way the U.K.'s relationship with not just the presidential team,

04:12but also with the administration on Capitol Hill.

04:15Marco, good to talk to you. Thanks so much for coming on the programme.

04:18Marco Forgioni, Director-General of the Chartered Institute of Export and International Trade.

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