Mayor of London Sadiq Khan looking to lure businesses away from the US

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Mayor of London Sadiq Khan looking to lure businesses away from the US

Mayor of London Sadiq Khan hopes to convince U.S. tech firms to invest more in London.

Leon Neal | Getty Images

“London is back,” the capital’s Mayor Sadiq Khan told CNBC on Wednesday, laying out his ambition to attract investors, visitors and students who are looking for an alternative to the U.S amid an uncertain Trump 2.0 era.

“At a time of growing international instability, at a time when there are, let’s be frank, choppy political waters in the U.S., we’re that rare thing — somewhere that’s stable, that’s open, that’s diverse. A brilliant environment for innovation, creativity and business,” the mayor of London told CNBC’s Tania Bryer.

U.S. President Donald Trump’s often mercurial position on trade, immigration and visa policies have rattled markets as well as businesses, tourists and students looking to make the U.S. their base.

Khan said the U.K. was seeing an increase in interest from American businesses and individuals looking to avoid more uncertain economic times and societal changes at home.

“They’re our closest ally … so I don’t see America as competition, I see them as our great partner and long may that continue, but I recognize the reality of the last few months which is that some American businesses, individuals and people in different sectors who, for a variety of reasons, are looking for somewhere new.”

“My message is very simple: actually in London we have everything you could possibly want, not only in terms of our stability, openness and diversity, but our values too.”

There’s no love lost between Khan and Trump, with the former in 2019 calling the president a “poster boy” for the far right. Trump fired back at the time, calling the mayor “a stone cold loser who should focus on crime in London, not me.”

With Trump winning a second term in office last November, critics like Khan have had to take a more diplomatic stance as the U.K. government under the Labour Party, which Khan belongs to, has looked to build bridges with the Trump administration.

Despite their political differences, Prime Minister Keir Starmer appears to have curried favor with Anglophile Trump, with the leaders seemingly getting on well and Starmer winning a much sought-after trade deal with the U.S. last month, averting many of the punitive trade tariffs facing other U.S. allies and adversaries alike.

“What’s important is for all of us to put aside out personal views when it’s in the national interest to do so,” Khan said, adding that “we can’t escape the fact though that there are some things that the president has said or done that are controversial, and it’s really important that we speak up on things we agree with, but also on things we disagree with.”

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