00:00This is a very distinguished group, and I can tell you that's what I do for a living.
00:14It was before politics I would have to deal with you, and you are the best.
00:18You're the best in the world, and you're here.
00:21And it's an honor to have all of these great leaders.
00:24Really an honor.
00:25But I'm sincerely grateful to Prime Minister Starmer and Lady Starmer for welcoming us to this very special home, this beautiful place.
00:35And I was here a number of years ago, but somehow today it looks even better, even more beautiful, and even more historic.
00:44Melania and I are forever thankful to His Majesty King Charles III and Her Majesty Queen Camilla.
00:51We had a fantastic evening last night, but the exquisite honor of a second official state visit, the first ever.
00:59That's the first time it's ever been done.
01:01It really was an honor.
01:03Such great history, and to think it's a first.
01:06It's always nice to have a first.
01:09But the ties between our countries are priceless, and it's really an inheritance.
01:13It's a beautiful inheritance.
01:15Today we're making those ties closer than ever before.
01:19We've done some things that financially are great for both countries, and we work together, and it keeps us together.
01:27And I think it's an unbreakable bond we have, regardless of what we're doing today.
01:31I think it's unbreakable.
01:32But this is very big, and I want to thank all of the incredibly talented business leaders, the best in the world, biggest in the world,
01:39here this afternoon for investing in the Anglo-American alliance.
01:43And you personify an important part of the unique national bond, and really a world bond.
01:49What you've done is incredible.
01:51Our two countries do a great deal of business together.
01:54$340 billion last year was the number.
01:58In May, the United Kingdom became the first country to make a trade deal with the United States during my second term,
02:05and we sort of wanted to make it the first because the bond is so strong and the relationship so long.
02:12That agreement will create billions of dollars in opportunities for American farmers to sell their products into the UK,
02:18reduce barriers to trade, and give the U.S. manufacturers better access to the UK's world-class aerospace supply chain,
02:27which is really, really is world-class.
02:29A lot of people don't understand the importance of that particular asset that you have.
02:35It's a beautiful, it's a beautiful job you've done.
02:38There's no more natural partnership in the world.
02:40Together, we're building up the industrial capacity of both of our countries,
02:44which is crucial to our defense.
02:46And we work so well together in defense.
02:49I've met so many of the leaders of your defending group,
02:53and many of them I've known by name, but now I know them pretty well.
02:57We had some very good meetings today and yesterday.
03:01So we're taking the next logical step with a historic agreement on science and technology partnerships,
03:07and this will create new government, academic, and private sector cooperation in areas such as AI,
03:14which is taking over the world.
03:17I mean, I'm looking at you guys.
03:19You're taking over the world, Jensen.
03:21I don't know what you're doing here.
03:23I hope you're right.
03:25All I can say is we both hope you're right.
03:28But it's pretty amazing.
03:31Quantum computing, fusion, 6G, and civil nuclear energy align our nations through the approach of centered deregulation and innovation.
03:43And we're going to have a lot of deregulation and a tremendous amount of innovation.
03:47It's just happening.
03:49But this new accord is already helping spur a massive wave of private sector deals worth over $350 billion alone,
03:57headlined by a $136 billion from Blackstone.
04:02That's very nice.
04:03Steve, thank you.
04:03That's why you have that location, I think.
04:05It's considered the best seat of the year.
04:09Yours is pretty good, too, Jensen.
04:11That's good.
04:11That's great, Steve.
04:12You know what you're doing better than anybody.
04:16American company X Energy and British company Centrica has been announcing,
04:24and really for a long while they've been talking about this deal,
04:28the deployment of modular nuclear reactors across the U.K., all across the U.K.
04:33It's been in the wind for a couple of years, and now we're getting it done,
04:38generating more than $50 billion in economic value, creating up to 2,500 jobs,
04:43and powering 1.5 million homes.
04:46That's a lot of homes.
04:48Seven decades after British genius Alan Turing pioneered the field,
04:53this agreement will also help America and our British allies dominate the future of artificial intelligence.
05:00You need the energy.
05:01You have to have the energy.
05:02That's one thing I learned very quickly.
05:04They need a lot of electricity in the United States.
05:07You need double what we have right now just to maintain that fight.
05:12We're right now, and I want to say, leading China and the world by a lot in AI, a lot.
05:20And we're creating tremendous amounts of energy and letting you create your own electricity in many, many cases.
05:26And we're giving you very rapid approvals.
05:29We're getting them approvals like they've never seen before.
05:31They used to wait 15 and 20 years to be rejected.
05:35Now they wait two weeks or three weeks to be accepted.
05:38That's a pretty big difference.
05:40And at the same time, we always have the environment in mind, but we move them along.
05:46But we're committed to ensuring that you have secure and reliable sources of American AI and quantum technology.
05:54We intend to always be the U.K.'s strongest, closest, and most trusted business partner.
05:59Very important to us.
06:00The relationship is very important.
06:03One year ago, our country was in serious trouble.
06:06The king of Saudi Arabia, a great gentleman, a great gentleman, you all know him.
06:12He said, sir, your country was dead one year ago, and now you have the hottest country anywhere in the world.
06:16And it's true.
06:18We'll have more than $17 trillion invested in our country this year.
06:24$17 trillion, which is many, many times what we had last year.
06:30And we're only in our just about almost ninth month getting just moving along quickly.
06:36It's amazing.
06:37I was saying we're in our third month, our fourth month, our fifth month.
06:40But it's going to be over $17 trillion.
06:45No country has ever had anything like that, even close.
06:48GDP last quarter was 3.3 percent, despite all of the things we're doing.
06:55One of the things we're doing, which I'm very proud of, is the border.
06:58We now have a totally closed border, totally secure for three months.
07:02Zero people came into our country, bad people.
07:05And they come in, but they have to come in legally.
07:07We have a great process going.
07:09And inflation is virtually non-existent.
07:13As you know, we're taking in trillions of dollars from tariffs.
07:19And they've been so incredible for our country, so incredible.
07:24We're keeping our companies happy.
07:26We're keeping them solid and sane.
07:29And they're very, very thrilled at what's happened.
07:33They can't even – actually, they can't even believe it.
07:35And we've never seen investment like this without the tariffs.
07:38And we would have just a fraction of that.
07:41And we're really the only one that can do tariffs.
07:43Nobody else is able to do them.
07:46With us, it works because people have to be there.
07:49But we've slashed 30-year-old regulations.
07:52And as you know, in my first term, we had a very successful first term.
07:55We had the greatest economy in the history of our country.
07:57And we had the biggest regulation cut in the history of our country.
08:02And now we're doing it again.
08:03We're slashing them at a level that is even beyond what we did in the first term.
08:08The first term, we did more regulation cutting by four times any other – at any other time that any other country has done or that we've done.
08:19And we think we're going to exceed that this time.
08:23And we'll have regulation, but it'll be sane regulation.
08:26It'll be regulation that allows you to compete and do your thing or regulations that you're able to get around and do things and you no longer have that regulation.
08:36But we slashed regulations at a level that's never been done before, and we're doing it at the same level right now.
08:43I recently signed the largest tax cuts in our country's history.
08:47And the bill includes a 100 percent expensing for investments in equipment and factories.
08:54Nobody's ever seen anything like that.
08:56And it lasts for a 10-year period, so it's going to be there for a while.
08:59But the countries and companies are coming into our country for the expensing aspect of the bill.
09:06I was in the – I call it the big, beautiful bill, the great, big, beautiful bill.
09:11We got so much – the largest bill ever passed in the history of our country.
09:14In fact, so big that we really don't have to pass too much anymore.
09:17We can just do this for four years, implement.
09:21You know, I like to implement because the bills are wonderful, but you have to implement.
09:24But the expensing is going to be the reason, I think, that bigger than anything else, when you have one-year expensing, you can write everything off in the first year, including structure.
09:34So you didn't even have that in the first bill.
09:37I think it was the biggest factor in the first bill why it led to such growth.
09:41And this is actually a better form of expensing, and it's actually more significant.
09:47So today, America is strong.
09:49Our economy is, I think, potentially the strongest it's ever been.
09:54We'll see very soon those big places that are being built all over the country.
09:58Car companies are moving in.
10:00AI is moving in.
10:01Everybody's coming in.
10:02They all want to be here.
10:03The drug companies are coming back.
10:05They all want to be there.
10:06They sort of have to be there.
10:09But they want to be there.
10:10But with this agreement, our cherished friendship with the United Kingdom is getting stronger and stronger.
10:15And, again, I want to thank the Prime Minister.
10:18He worked very hard on this in getting this deal done.
10:20This is long in the making.
10:22They've been talking about it for a long time, and we got it done.
10:25And it's a real honor to be with you.
10:26And thank you very much.
10:48Senator Matthewden, Jr.: Should I sign this, Howard?
10:49Of which side?
10:51Right.
10:52Senator Matthewden, Jr.: Should I sign this?
10:54Are you sure, Scott?
10:55If the deal's no good, I'm blaming you, Scott.
10:58That would be great.
11:00It's a great honor.
11:30Mr. President, Mr. Prime Minister, we're now going to take some contributions from our distinguished guests from the business community, starting with Sir Demis Hassadis, the co-founder and CEO of DeepMind.
11:53Thanks, Warren. It's a huge pleasure and honor to be here today. And thank you, Mr. President and Prime Minister, for your fantastic leadership on the U.S.-UK tech prosperity deal.
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