At the start of a business reception, leading figures from both U.S. and UK industries were welcomed by the two leaders, who commended their role in solidifying ties through investments in sectors ranging from technology to energy.

This was the second day of Trump’s unprecedented second state visit to Britain, which he described as an “exquisite honour” following a day filled with pomp and ceremony, including a “fantastic” state banquet at Windsor Castle with King Charles.

Seated side by side in a marquee on the grounds of Starmer’s Chequers country residence, the two celebrated the unveiling of a record £150 billion ($205 billion) package of U.S. investment into Britain, part of a larger £250 billion deal officials say will benefit both sides.

Starmer said, “This is a great day for the special relationship,”

expressing thanks to business leaders including Nvidia’s CEO Jensen Huang and GSK’s Emma Walmsley.

“A celebration of what has gone before, of course, but more than that, a moment to deliver investments, jobs and deals which will improve people’s lives now and light up the special relationship for years to come.”

Trump was equally enthusiastic: “The ties between our countries are priceless. We’ve done some things that financially are great for both countries … I think it’s an unbreakable bond we have, regardless of what we’re doing today. I think it’s unbreakable.”

Starmer promoted Britain as a prime destination for U.S. investment, focusing on financial services, technology, and energy sectors to attract American capital, develop infrastructure, and boost economic growth.

Although he appeared to accept that further reductions on steel tariffs were unlikely, he highlighted broader agreements, including a new technology pact involving companies like Microsoft, Nvidia, and OpenAI pledging £31 billion ($42 billion), alongside £100 billion from Blackstone.

Earlier, Starmer and his wife Victoria warmly greeted Trump at Chequers to the sound of bagpipes—a nod to the U.S. president’s Scottish heritage—for a meeting that carries its share of challenges.

Later on Thursday, both leaders planned to hold a press conference where journalists might question them about the late sex offender Jeffrey Epstein.

Starmer recently dismissed Peter Mandelson as ambassador to the U.S. after reports revealed his close ties with Epstein, and Trump’s own association with the late financier has also come under scrutiny.

“For Starmer, he is having a difficult domestic time and he needs a positive international narrative and to bring Trump on board on key issues,” said Evie Aspinall, director of the British Foreign Policy Group think tank.

Trump, for his part, would want to demonstrate the value of close relations with Starmer.

“For both sides, they realise there is a lot to be gained,” Aspinall added.

Starmer also hopes that Trump’s pride in attending the state banquet will discourage the U.S. leader from addressing sensitive subjects like Britain’s online safety laws or its stance on Israel.

Speaking at Wednesday’s banquet, Trump said Britain had

“laid the foundations of law, liberty, free speech and individual rights” under its empire and “must continue to stand for the values and the people of the English speaking world.”

A few hours later, Trump applauded the suspension of late-night host Jimmy Kimmel over comments about the assassination of conservative activist Charlie Kirk. Trump has pressured broadcasters to stop airing content he finds objectionable.

The two leaders will also discuss foreign affairs, with Starmer aiming to persuade Trump to take stronger action against Russia regarding its full-scale invasion of Ukraine.

Trump pleased Europe by calling Russia “the aggressor” in the conflict last weekend but insists Europe must halt all purchases of Russian oil before he agrees to tougher sanctions on Moscow.

He also criticised some European countries for recognising a Palestinian state as “rewarding Hamas,” though he told reporters he did not mind Starmer “taking a position.”

“Those two geopolitical areas are likely to be the friction points in the conversations,” said Aspinall. “There will be some awkward moments in those conversations.”

Ahead of the visit, U.S. Treasury Secretary Scott Bessent and UK Chancellor Rachel Reeves announced the launch of a “Transatlantic taskforce” aimed at expanding cooperation between two of the world’s largest financial centres.

Trump will be formally welcomed by King Charles on Wednesday at Windsor Castle, where a day of traditional ceremony is planned. The event is seen by officials as an opportunity to reinforce diplomatic ties and avoid potential missteps during the visit.

Visit Comes at Pivotal Moment for Both Leaders

The timing of the visit provides a change of focus for both leaders. Trump arrives less than a week after conservative activist Charlie Kirk was fatally shot, an event reported to have had a personal impact on the president.

Starmer, meanwhile, is looking to redirect attention to global affairs and economic opportunity following a politically challenging period. Over the past two weeks, he dismissed his deputy, Angela Rayner, and later removed UK ambassador to the U.S., Peter Mandelson, due to Mandelson’s links to Jeffrey Epstein, a convicted sex offender.

The UK government aims to present the country as a key destination for U.S. investment, with plans to align its financial services, technology, and energy sectors more closely with American counterparts to boost domestic growth.

Top executives such as Nvidia CEO Jensen Huang and OpenAI’s Sam Altman are expected to attend meetings during the visit, with billions of dollars in deals anticipated.

Microsoft announced plans to invest over $30 billion in the UK over four years, and Google committed to £5 billion ($6.8 billion), including the development of a new data centre near London to support AI infrastructure.

A spokesperson for Starmer described the state visit as “a historic opportunity” coming “at a crucial time for global stability and security.”

“The prime minister will discuss the challenges that both our countries face, and the opportunities, as we enter a new era of our deep and unparalleled relationship,” the spokesperson told reporters.

Chequers Meeting to Focus on Key Global Issues

On Thursday, Starmer will host Trump at his country residence, Chequers, where the agenda is expected to cover foreign policy and economic matters. The meeting comes at a time when Starmer is working to move past questions over his handling of recent high-profile dismissals.

Both Rayner and Mandelson had received Starmer’s public backing before their departures, leading to scrutiny of his political judgment—particularly as Reform UK, led by Nigel Farage, continues to perform strongly in the polls.

Mandelson’s past ties to Epstein could present a delicate moment, given Trump’s previous connections to the former ambassador and his own past association with Epstein. Starmer has said he was unaware of the extent of Mandelson’s involvement, and Trump has denied writing Mandelson a birthday letter, which was made public by U.S. House Democrats.

Royal Ceremony and Diplomatic Engagements Planned

On Wednesday, Trump and First Lady Melania Trump will take part in a ceremonial welcome that includes a carriage procession, a state banquet, a flypast by military aircraft, and a gun salute.

Thursday’s talks at Chequers will include discussions on investment, tariffs on steel and aluminium, the conflict in Ukraine, and the situation in Gaza. Both nations will bring large delegations, and the visit will be secured against planned demonstrations.

U.S. Secretary of State Marco Rubio arrived in the UK on Tuesday and was welcomed by new Foreign Secretary Yvette Cooper.