President Donald Trump attended a high-profile reception at Chequers hosted by UK Prime Minister Keir Starmer, joining top British business leaders. The event focuses on strengthening US-UK trade, investment, and economic cooperation during Trump’s state visit.
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NewsTranscript
00:00Thank you very much and very nice to see you all and Mr. President let me welcome you again for this unprecedented second state visit and it's a great pleasure for me personally to welcome you to my home from home here at Chequers and thank you very much for taking the time to say hello to the staff who are absolutely, they've done a brilliant job and they've been preparing for weeks and it's really
00:29so good to have you here so thank you so much you are among friends and I think we all agree there's so much to celebrate in the special relationship between our two countries by standing together in war and in peace this bond is the very foundation of our security our freedom and our prosperity but what is the relationship all about when it comes down to
00:59brass tacks it comes down to leaders of course leaders who respect each other leaders who genuinely like each other and it comes down to our unique relationship on defense the closest the world has ever seen
01:18it comes down to the connection between our people ties of family and friendship the president himself is a shining example of that but it also comes down to business
01:32thanks to all of you here and thank you so much for coming here this afternoon it's fantastic to have you with us as the best evidence of that people to people business to business relationship that thrives in the special relationship
01:48in so many ways this story is a story about enterprise the US is our single biggest largest trading partner companies like BP GSK Rolls-Royce and AstraZeneca employ thousands of people in the United States American companies like
02:10Microsoft Citigroup Citigroup Citigroup Citigroup Citigroup Citigroup Citigroup Citigroup Citigroup Boeing Amazon Amazon and Blackstone do the same here together we support over 2.5 million jobs across both economies
02:12so this relationship is embodied in each and every one of you here today we have if you like the great and the good of British and American business sitting with us
02:39Vincent, Ruth, Demis and Satya. Finance, Jane, Larry and Steve. And of course in pharma, in defence, energy and manufacturing.
02:49It is really great to see you all. To see you all again, I should say, because of course we were together yesterday and we know each other very, very well, which is exactly as it should be.
03:00And just look at what we're achieving today together. The deals and investment that you're announcing today break all records. What a day.
03:13£250 billion flowing both ways across the Atlantic. It is the biggest investment package of its kind in British history by a country mile.
03:25So thank you so much for your contribution on your part in that, as the embodiment of that special relationship.
03:35And let me spell out what that means. It means life-changing investments across the United Kingdom.
03:41It's expected to create 15,000 jobs in Belfast, in Birmingham, Hartlepool, the Humber and well beyond.
03:49It means thousands of working people will feel and will be better off. And it shows the potency of this partnership.
03:58U.S. capital and entrepreneurial spirit combined with British ideas and ingenuity.
04:06The UK is one of the world's largest economies. Maybe not quite on the scale of the United States, I concede, but my word, we punch above our weight.
04:17And we lead the world in expertise on quantum, on AI, life sciences, financial services and more.
04:26We have the only trillion dollar tech sector in the West, outside of the U.S. Again, caveat.
04:33We have the best investment, the best universities, the most Nobel Prizes, and we have Dennis here, outside the U.S.
04:43That's what we bring to the table. And we are proud of it.
04:49That's why we both benefit from this incredible relationship.
04:54Look at the economic prosperity deal that we struck back in May.
04:57It was the first trade deal that the President made. And yes, it was the best deal as well.
05:06We have the lowest tariffs in the world, in vital sectors. And that is some achievement.
05:12It was a tough negotiation, but we did it for a reason.
05:18Because it's a win for both sides.
05:21And because we knew that by working together, we could deliver more for working people.
05:27We could help the businesses here today to thrive.
05:31And help you create good, well-paid jobs in communities up and down our country.
05:37And ultimately, that is the test of the special relationship.
05:42How much it delivers for honest, hard-working people to make them safer and better off.
05:48We've already taken a big steps forward.
05:53And we're going further today, much further.
05:57In a moment, the President and I will sign our groundbreaking new technology partnership,
06:04the Tech Prosperity Deal.
06:06It's a blueprint to win this new era together, shape it according to our shared values,
06:15and seize the incredible opportunities that are on offer.
06:19I want to thank all of you for supporting this vision.
06:24We have huge new investments from NVIDIA, Nscale, OpenAI, Google, Salesforce, and many more.
06:35Backing cutting-edge British jobs for years to come.
06:39And, of course, Tech needs energy.
06:44So to fuel this revolution, we've struck a new deal on civil nuclear power.
06:50We discussed this, Mr President, last time we were together and the opportunities we had.
06:54Generating energy for millions of homes and businesses.
06:58Driving down bills on both sides of the Atlantic.
07:01And driving up energy security.
07:04So I want to thank everybody here for supporting this too.
07:08With brilliant job-creating investments from Amentum and others.
07:13Including building up to 12 advanced nuclear reactors in the North East.
07:18So this is a great day for the special relationship.
07:23A celebration of what has gone before, of course.
07:26But more than that, a moment to deliver investments, jobs, and deals,
07:32which will improve people's lives now.
07:35And light up the special relationship for years to come.
07:39So thank you all.
07:41And now, it is my pleasure to hand the floor to my friend, our friend, President Trump.
07:49Thank you very much.
07:50And great job.
08:01This is a very distinguished group.
08:03I can tell you that's what I do for a living.
08:06It was before politics I would have to deal with you.
08:10And you are the best.
08:11You're the best in the world.
08:13And you're here.
08:14And it's an honor to have all of these great leaders.
08:17Really an honor.
08:18But I'm sincerely grateful to Prime Minister Starmer and Lady Starmer
08:22for welcoming us to this very special home, this beautiful place.
08:28And I was here a number of years ago.
08:30But somehow, today it looks even better.
08:33Even more beautiful.
08:34And even more historic.
08:37Melania and I are forever thankful to His Majesty King Charles III
08:41and Her Majesty Queen Camilla.
08:44We had a fantastic evening last night.
08:47But the exquisite honor of a second official state visit.
08:51The first ever.
08:52That's the first time it's ever been done.
08:54It really was an honor.
08:56Such great history.
08:58And to think it's a first.
08:59It's always nice to have a first.
09:00But the ties between our countries are priceless.
09:04And it's really an inheritance.
09:06It's a beautiful inheritance.
09:08Today we're making those ties closer than ever before.
09:12We've done some things that financially are great for both countries.
09:17And we work together and it keeps us together.
09:19And I think it's an unbreakable bond we have.
09:22Regardless of what we're doing today, I think it's unbreakable.
09:25But this is very big.
09:27And I want to thank all of the incredibly talented business leaders.
09:30The best in the world.
09:31Biggest in the world.
09:32Here this afternoon for investing in the Anglo-American alliance.
09:36And you personify an important part of the unique national bond.
09:41And really a world bond.
09:42What you've done is incredible.
09:44Our two countries do a great deal of business together.
09:47$340 billion last year was the number.
09:50In May, the United Kingdom became the first country to make a trade deal with the United States during my second term.
09:58And we sort of wanted to make it the first because the bond is so strong and the relationship so long.
10:05That agreement will create billions of dollars in opportunities for American farmers to sell their products into the UK.
10:11Reduce barriers to trade and give the U.S. manufacturers better access to the UK's world-class aerospace supply chain.
10:19Which is really, really is world-class.
10:22A lot of people don't understand the importance of that particular asset that you have.
10:28It's a beautiful, it's a beautiful job you've done.
10:31There's no more natural partnership in the world together.
10:33We're building up the industrial capacity of both of our countries, which is crucial to our defense.
10:39And we work so well together in defense.
10:42I met so many of the leaders of your defending group.
10:46And many of them I've known by name.
10:48But now I know them pretty well.
10:50We had some very good meetings today and yesterday.
10:54So we're taking the next logical step with a historic agreement on science and technology partnerships.
11:00And this will create new government, academic and private sector cooperation in areas such as AI, which is taking over the world.
11:10I mean, I'm looking at you guys.
11:12You're taking over the world, Jensen.
11:14I don't know what you're doing here.
11:17I hope you're right.
11:18I'm so tired today.
11:18All I can say is we both hope you're right.
11:21But it's pretty amazing.
11:24Quantum computing, fusion, 6G and civil nuclear energy and align our nations through the approach of centered deregulation and innovation.
11:36And we're going to have a lot of deregulation and a tremendous amount of innovation.
11:40It's just happening.
11:41But this new accord is already helping spur a massive wave of private sector deals worth over $350 million alone, headlined by a $136 billion from Blackstone.
11:55That's very nice.
11:56Steve, thank you.
11:56That's why you have that location, I think.
11:59It's considered the best seat of the year.
12:02Yours is pretty good, too, Jensen.
12:03That's good.
12:04That's great, Steve.
12:05You know what you're doing better than anybody.
12:08American company X Energy and British company Centrica has been announcing, and really for a long while they've been talking about this deal, the deployment of modular nuclear reactors across the U.K., all across the U.K.
12:26It's been in the wind for a couple of years, and now we're getting it done, generating more than $50 billion in economic value, creating up to 2,500 jobs,
12:36and powering 1.5 million homes.
12:39That's a lot of homes.
12:41Seven decades after British genius Alan Turing pioneered the field, this agreement will also help America and our British allies dominate the future of artificial intelligence.
12:53You need the energy.
12:54You have to have the energy.
12:55That's one thing I learned very quickly.
12:57They need a lot of electricity.
12:58In the United States, you need double what we have right now just to maintain that fight.
13:04We're right now, and I want to say, leading China and the world by a lot in AI, a lot.
13:12And we're creating tremendous amounts of energy and letting you create your own electricity in many, many cases.
13:19And we're giving you very rapid approvals.
13:21We're getting them approvals like they've never seen before.
13:24They used to wait 15 and 20 years to be rejected.
13:28Now they wait two weeks or three weeks to be accepted.
13:31That's a pretty big difference.
13:33And at the same time, we always have the environment in mind, but we move them along.
13:40But we're committed to ensuring that you have secure and reliable sources of American AI and quantum technology.
13:47We intend to always be the UK's strongest, closest, and most trusted business partner.
13:52Very important to us.
13:53The relationship is very important.
13:56One year ago, our country was in serious trouble.
13:59The king of Saudi Arabia, a great gentleman, a great gentleman, you all know him.
14:05He said, sir, your country was dead one year ago, and now you have the hottest country anywhere in the world.
14:09And it's true.
14:11We'll have more than $17 trillion invested in our country this year.
14:17$17 trillion, which is many, many times what we had last year.
14:22And we're only in our just about almost ninth month, getting just moving along quickly.
14:29It's amazing.
14:30I was saying we're in our third month, our fourth month, our fifth month.
14:33But it's going to be over $17 trillion.
14:38No country has ever had anything like that, even close.
14:41GDP last quarter was 3.3 percent.
14:45Despite all of the things we're doing, one of the things we're doing, which I'm very proud of, is the border.
14:51We now have a totally closed border, totally secure for three months.
14:55Zero people came into our country, bad people.
14:58And they come in, but they have to come in legally.
15:00We have a great process going.
15:02And inflation is virtually nonexistent.
15:06As you know, we're taking in trillions of dollars from tariffs.
15:12And they've been so incredible for our country, so incredible.
15:16We're keeping our companies happy.
15:19We're keeping them solid and sane.
15:22And they're very, very thrilled at what's happened.
15:26They can't even, actually, they can't even believe it.
15:28And we've never seen investment like this.
15:30Without the tariffs, we would have just a fraction of that.
15:34And we're really the only one that can do tariffs.
15:36Nobody else is able to do them.
15:38With us, it works, because people have to be there.
15:42But we've slashed 30-year-old regulations.
15:45And as you know, in my first term, we had a very successful first term.
15:48We had the greatest economy in the history of our country.
15:50And we had the biggest regulation cut in the history of our country.
15:55And now we're doing it again.
15:56We're slashing them at a level that is even beyond what we did in the first term.
16:01The first term, we did more regulation cutting by four times any other, at any other time,
16:08that any other country has done or that we've done.
16:12And we think we're going to exceed that this time.
16:16And we'll have regulation, but it'll be sane regulation.
16:19It'll be regulation that allows you to compete and do your thing,
16:23or regulations that you're able to get around and do things,
16:27and you no longer have that regulation.
16:30But we slashed regulations at a level that's never been done before,
16:33and we're doing it at the same level right now.
16:35I recently signed the largest tax cuts in our country's history.
16:40And the bill includes a 100% expensing for investments in equipment and factories.
16:47Nobody's ever seen anything like that.
16:48And it lasts for a 10-year period.
16:50So it's going to be there for a while.
16:52But the countries and companies are coming into our country for the expensing aspect of the bill.
17:00I call it the big, beautiful bill, the great, big, beautiful bill.
17:03We got so much the largest bill ever passed in the history of our country.
17:07In fact, so big that we really don't have to pass too much anymore.
17:10We can just do this for four years, implement.
17:14You know, I like to implement because the bills are wonderful, but you have to implement.
17:17But the expensing is going to be the reason, I think, that bigger than anything else,
17:22when you have one-year expensing, you can write everything off in the first year, including structure.
17:27So you didn't even have that in the first bill.
17:30I think it was the biggest factor in the first bill why it led to such growth.
17:34And this is actually a better form of expensing.
17:37And it's actually more significant.
17:40So today, America is strong.
17:42Our economy is, I think, potentially the strongest it's ever been.
17:47We'll see very soon those big places that are being built all over the country.
17:51Car companies are moving in.
17:52AI is moving in.
17:54Everybody's coming in.
17:55They all want to be here.
17:56The drug companies are coming back.
17:58They all want to be there.
17:59They sort of have to be there.
18:01But they want to be there.
18:03But with this agreement, our cherished friendship with the United Kingdom is getting stronger and stronger.
18:08And, again, I want to thank the prime minister.
18:11He worked very hard on this in getting this deal done.
18:13This is long in the making.
18:15They've been talking about it for a long time, and we got it done.
18:17And it's a real honor to be with you.
18:19And thank you very much.
18:40Did I sign this, Howard?
18:43I'm here, Scott.
18:46Did I sign this?
18:47Are you sure, Scott?
18:48If the deal's no good, I'm blaming you, Scott.
18:51It's a great honor.
19:05Let's flip it.
19:19Okay, hold that up.
19:35Mr. President, Mr. Prime Minister, we're now going to take some contributions from our distinguished guests from the business community, starting with Sir Demis Hassabis, the co-founder and CEO of DeepMind.
19:47Thanks, Warren. It's a huge pleasure and honor to be here today.
19:50And thank you, Mr. President and Prime Minister, for your fantastic leadership on the US-UK tech prosperity deal.
20:05And never miss an update.
20:09Download the One India app now.
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