Secretary of Business Outlines Aim to Expand upon the Pace Set by the Royal Visit
The UK and US have announced a significant investment deal, marking a new era in their special relationship. Sage, a major UK listed company, is set to invest $2.3 billion into the US market over the next three years. This investment forms part of a larger bilateral investment totaling over $300 billion, a figure that has increased significantly over the past few days.
The Tech Prosperity Deal, signed during the State Visit, aims to unlock growth from top companies and define the next 100 years of technology. The agreement lowers tariffs and protects jobs in various sectors, including automotive, steel, aluminium, aerospace, and agriculture. This deal, along with the Economic Prosperity Deal, aims to secure success for the trillion-dollar tech sectors in the 21st century.
British businesses like GSK are planning to invest an additional $30 billion into the United States over the next five years. The National Grid is committing billions of dollars worth of investment into American businesses over the same period. Prologis are investing £3bn into state-of-the-art biometric campuses in Cambridge, benefiting the UK's life sciences sector.
The US-American CEO involved in signing the technology progress agreement is associated with the US company X-energy. This company has partnered with the British energy firm Centrica for the construction of advanced modular nuclear reactors in Northeast England. This partnership represents a significant investment in the UK’s future nuclear technology sector.
The special relationship is about the future prosperity of both countries and the new technology enhancing their lives. Secretary Lutnick, Director Michael Kratsios, and other US guests were welcomed by His Majesty's Government. The Secretary moved to the Business and Trade job and flew to Washington to close the deal for the Technology Partnership.
The Tech Prosperity Deal increases capital flows to help companies in the UK and US scale and grow. The deal is expected to create thousands of jobs and add billions to the economies of the UK and US. The Tech Prosperity Deal, signed today, is a signal of the special relationship between the US and UK.
Mr. Secretary Lutnick is thanked for his role in securing the Economic Prosperity Deal. The State Visit has been described as remarkable and memorable. Secretary Lutnick compared the illustrious building to his home. The Secretary wants to build on the momentum of the partnership to deliver it with even greater determination, writing the next exciting chapter in the special relationship.
Britain is the first country to successfully negotiate such an agreement. The Tech Prosperity Deal, along with the Economic Prosperity Deal, aims to secure success for the trillion-dollar tech sectors in the 21st century. The deals represent a significant step forward in the UK-US relationship and a promise of a prosperous future for both nations.
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