British Prime Minister Keir Starmer (L) shakes hands with President Donald Trump during a joint press conference at the White House in Washington D.C., on February 27. The Trump administration suspended talks with Britain on a technology deal between the two countries. File Photo by Chris Kleponis/UPI | License Photo
The Trump administration has halted negotiations with Britain on a technology deal over frustration with the pace of lowering trade barriers, unnamed sources familiar with the process told multiple news outlets Tuesday.
The New York Times was the first to report on the stalled Tech Prosperity Deal, citing sources who agreed to speak on condition of anonymity. The BBC and CNBC also confirmed the news.
Britain and the United States agreed in September to the tech deal, which provides for collaboration on artificial intelligence, nuclear fusion and quantum computing. The deal would have seen U.S. tech companies, including Google Nvidia, OpenAI, CoreWeave and Microsoft, invest some $41.63 billion to help develop Britain’s AI infrastructure.
President Donald Trump at the time said the Tech Prosperity Deal would “ensure our countries lead the next great technological revolution side by side.” Language from the deal, though, said it only “becomes operative alongside substantive progress being made to formalize and implement” the May trade deal.
People familiar with negotiations said, however, the Trump administration has been unhappy with the status of a general trade deal tentatively agreed to in May. The sources said Britain wasn’t working to lower trade barriers as promised in that deal.
The New York Times reported there had been disagreements over food safety rules and digital regulations.
The Financial Times reported the Trump administration suspended talks on the Tech Prosperity Deal last week.
A spokesperson for the British government told CNBC, “Our special relationship with the U.S. remains strong and the U.K. is firmly committed to ensuring the Tech Prosperity Deal delivers opportunity for hardworking people in both countries.”
Meanwhile, the BBC reported it appears the investment deals by U.S. tech companies appear unaffected by the suspension.
This week in Washington
President Donald Trump and first lady Melania Trump attend the Congressional Ball in the Grand Foyer of the White House on Thursday. Photo by Shawn Thew/UPI | License Photo
