The UK economy is set to be rewarded with a major boon as major US finance firms have confirmed investment commitments exceeding £1.25 billion for their British operations.
This announcement is a significant win for Chancellor Rachel Reeves ahead President Donald Trump’s state visit next week.
These investments will generate 1,800 new positions throughout London, Edinburgh, Belfast and Manchester, according to the Department for Business and Trade.
Leading firms participating in the investment pledge include Citigroup, Bank of America, PayPal, BlackRock and S&P Global.
The commitments form part of broader commercial arrangements totalling £20billion in bilateral trade between the two nations.
President Trump is preparing for his three-day visit to the UK, which will include an overnight stay at Windsor Castle.
Citigroup has committed £1.1billion for its British operations, including expanded activities in Northern Ireland.
Bank of America will establish its inaugural Northern Ireland presence, bringing up to 1,000 positions to Belfast.
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PayPal has earmarked £150million for product development and expansion initiatives.
S&P Global will channel over £4million into its Manchester facilities, securing 200 permanent positions.
BlackRock plans to direct £7billion towards British markets over the next year and has inaugurated new Edinburgh premises, nearly doubling its Scottish workforce. The investment announcements demonstrate strengthening financial sector ties between the two nations ahead of the presidential visit.
The bilateral trade arrangements encompass £8billion flowing into Britain and £12billion directed towards America, as outlined by Government officials.
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Rothesay has announced intentions to double its American investments with an additional £7billion commitment over the coming years.
Business and Trade Secretary Peter Kyle stated: “These investments reflect the strength of our enduring ‘golden corridor’ with one of our closest trading partners, ahead of the US presidential state visit.”
Chancellor Rachel Reeves indicated the investments would “kickstart the growth that is essential to putting money in working people’s pockets across every part of the United Kingdom.”
OpenAI and Nvidia are expected to reveal multi-billion dollar commitments for British data centre projects during the presidential visit.
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Sam Altman, OpenAI’s chief executive, and Nvidia’s Jensen Huang will reportedly join Trump’s business delegation.
The British Embassy in Washington indicated both countries intend to finalise a technology cooperation agreement within days, enhancing partnerships across their trillion-dollar technology industries.
Questions persist regarding American tariffs on British steel exports, which remain at 25 per cent.
While June’s bilateral agreement eliminated 50 per cent duties on automotive and aerospace exports to America, steel sector arrangements were not finalised, leaving the industry awaiting clarity during the state visit.
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