US President Joe Biden and UK Prime Minister Rishi Sunak unveiled a new economic partnership “for a new age” in Washington.
The UK and the US have announced a new strategic pact “for a new age” to counter Russia, China and economic instability, in Rishi Sunak’s first trip to the White House a prime minister.
The so-called ‘Atlantic declaration’ ushers in a new, closer partnership in defence, nuclear energy and the supply of essential metals for the energy transition.
“Countries like China and Russia are willing to manipulate and exploit our openness, steal our intellectual property, use technology for authoritarian ends, or withdraw crucial resources like energy,” said Sunak. “They will not succeed. Today, we have agreed the ‘Atlantic Declaration,’ a new economic partnership for a new age, of a kind that has never been agreed before.”
Under the plan, the two countries will strengthen supply chains, boost industry investment, and develop technologies of the future.
The leaders also agreed on a new civil nuclear partnership aimed at cutting dependence on Russian energy and supporting green energy cooperation and championing AI regulation.
The deal however remains a far cry from the free trade deal that London has been pushing for since its exit from the European Union in 2020.