Major US-UK Agreement Signed at Chequers
CHEQUERS, England — US President Donald Trump and UK Prime Minister Sir Keir Starmer signed a new economic agreement on Wednesday, unveiling £150 billion in planned investment by American firms. Dubbed the Tech Prosperity Deal, the package centers on technology, defense, and infrastructure, and is projected to create around 7,600 jobs in Britain.
The deal highlights a new phase of US-UK cooperation in areas such as artificial intelligence, quantum computing, and nuclear energy.
Breakdown of Investments
The commitments come from some of the biggest names in business and technology:
- Blackstone will deliver the largest contribution, pledging £90 billion over the next decade.
- Microsoft committed £22 billion in the next four years to expand operations.
- Google announced a £5 billion investment to grow its Hertfordshire data center.
- Prologis will spend £3.9 billion on life sciences and advanced manufacturing facilities.
- Palantir plans to invest up to £1.5 billion in defense innovation, creating 350 jobs.
- Amentum pledged to create 3,000 jobs across several UK regions.
- Boeing will build two 737 aircraft for the US Air Force in Birmingham — the first USAF aircraft assembled in Britain in over 50 years.
UK Government Welcomes Boost
Prime Minister Starmer called the investments “a testament to Britain’s economic strength” and emphasized the UK’s readiness to serve as a global hub for innovation. Business and Trade Secretary Peter Kyle described the announcements as “record-breaking investments” that signal confidence in the government’s industrial strategy.
Challenges Remain for Domestic Industries
While the deal brings optimism for new jobs, several sectors in the UK are facing setbacks.
- The steel industry saw a tariff reduction plan shelved.
- Major pharmaceutical firms, including Merck and AstraZeneca, paused or shifted investment to the US, citing regulatory frustrations and undervaluing of innovative medicines.
- AstraZeneca’s paused £200 million Cambridge project alone was expected to generate 1,000 jobs.
Meanwhile, UK-based GSK announced nearly £22 billion in research and development investment in the US, reflecting ongoing competition for global capital.
Critics Warn Against Overreliance
Not all reactions were celebratory. Former Deputy Prime Minister Nick Clegg described the investments as “crumbs from the Silicon Valley table,” warning that Britain continues to import technology while exporting talent and intellectual property abroad.
He urged the UK to strengthen its ability to “stand on its own two feet” rather than depending too heavily on American companies.
Related Coverage
- Global News – https://idahonews.co/global-news/
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