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Joe Biden and Rishi Snak Release ‘Atlantic Declaration’ to Strengthen Economic Ties

U.S. President Joe Biden and British Prime Minister Rishi Sunak on Thursday agreed to an “Atlantic Declaration” to strengthen economic ties between the two countries, but it would see allies turn their backs on globalization and cut China out of key supply chains. It’s a further sign that we’re trying to get rid of.

The declaration, as part of Mr. Biden’s attempt to build “economic security” among Western allies, will increase U.S.-Britain trade in areas such as defense, nuclear materials and critical minerals used in electric vehicle batteries. intended to expand.

Biden, speaking after their meeting at the White House, endorsed Sunak’s attempt to provide leadership in the debate on regulation of artificial intelligence. world summit on this issue This fall.

“I hope the UK can help solve this problem,” Mr Biden said. “No country can be trusted more than us to help negotiate to get over this issue.” He added, “We are on track.”

Speaking in the Oval Office, Sunak said the world was on the brink of the biggest technological breakthrough since the Industrial Revolution, but that it also gave adversaries “further means to undermine” Western democracies. .

Mr. Biden apologized for mistakenly referring to Mr. Sunak as “Mr. President,” referring to the wartime relationship between Mr. Roosevelt and Mr. Churchill. But British officials said the Atlantic Declaration was a tepid attempt to build a forward-looking U.S.-British relationship based on economic security.

The deal comes after hopes of a full-fledged U.S.-British free trade deal, a dream of Eurosceptic conservatives in Britain, were dashed.

The declaration recognizes that Sunak, a free-market activist and opponent of state subsidies, must work with the Biden administration, which uses state subsidies. Industrial policy and tax cuts Promote green technology.

It seeks to secure a special deal by the United States for Britain, similar to what other allies such as Japan, Australia and the EU are negotiating, to create a new supply chain that will reduce its dependence on China.

British manufacturers of electric vehicles that use British batteries, or products sourced from countries such as Japan with which the United States has important minerals agreements, are subject to one vehicle under Biden’s environmental promotion bill, the Inflation Control Act. Eligible for a tax credit of $3,750 per person. technology.

Meanwhile, Mr. Biden has pledged to ask Congress to approve Britain as a “domestic source” under the U.S. Defense Acquisition Act, which will allow U.K. officials to make quicker and more effective decisions on new military technology. He argues that more cooperation will be possible.

The declaration also covers other niche deals, such as “data bridges” that cut the paperwork for small exporters.

The agreement includes provisions to promote mutual recognition of engineer (and later accountant) qualifications, which may require state-by-state approval in the United States.

Sunak said people were wondering what kind of partner Britain would be after Brexit, adding: “Judge us by our actions.”

The prime minister said the UK remained an attractive investment destination and that the UK could now move “faster and more flexibly” to create new rules on emerging technologies such as AI.

There was also strong language between the two leaders. “No country is closer to us than Britain,” Biden said, while Sunak spoke of “an essential alliance.”

But British diplomats acknowledged that clouds still hang over relations between the two countries. Haze from wildfires in Canada It cast a pale shadow over the US capital during Mr. Sunak’s visit.

On the positive side, the US and UK have worked closely together on developing a military partnership with Ukraine. alongside Australia – Develop nuclear submarines to counter China in the Pacific.

Mr Sunak also helped win Mr Biden’s trust by settling the post-Brexit dispute over Northern Ireland’s trade deal, but the US president said in May “to keep the British from fooling around”. He said he had to visit Ireland.

“I am fortunate to enjoy a good relationship with President Biden,” Sunak told reporters, avoiding repeating the corny British claim that it enjoys a “special relationship” with the United States. .

But Biden has criticized Brexit, and Democrats can’t understand why Sunak, who supported Brexit, limited Britain’s influence on the continent.

Biden and free-market Sunak also disagree on the president’s policy of state subsidies to promote green technology. opposition party of the British Labor PartyBy contrast, I completely agree with this idea.

But the two are facing voters in 2024 and may be competing in simultaneous elections next fall, further adding to the list of challenges that will bring the two leaders closer together.

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U.S. President Joe Biden and British Prime Minister Rishi Sunak on Thursday agreed to an “Atlantic Declaration” to strengthen economic ties between the two countries, but it would see allies turn their backs on globalization and cut China out of key supply chains. It’s a further sign that we’re trying to get rid of.The declaration, as part of Mr. Biden’s attempt to build “economic security” among Western allies, will increase U.S.-Britain trade in areas such as defense, nuclear materials and critical minerals used in electric vehicle batteries. intended to expand.Biden, speaking after their meeting at the White House, endorsed Sunak’s attempt to provide leadership in the debate on regulation of artificial intelligence. world summit on this issue This fall.”I hope the UK can help solve this problem,” Mr Biden said. “No country can be trusted more than us to help negotiate to get over this issue.” He added, “We are on track.”Speaking in the Oval Office, Sunak said the world was on the brink of the biggest technological breakthrough since the Industrial Revolution, but that it also gave adversaries “further means to undermine” Western democracies. .Mr. Biden apologized for mistakenly referring to Mr. Sunak as “Mr. President,” referring to the wartime relationship between Mr. Roosevelt and Mr. Churchill. But British officials said the Atlantic Declaration was a tepid attempt to build a forward-looking U.S.-British relationship based on economic security.The deal comes after hopes of a full-fledged U.S.-British free trade deal, a dream of Eurosceptic conservatives in Britain, were dashed. The declaration recognizes that Sunak, a free-market activist and opponent of state subsidies, must work with the Biden administration, which uses state subsidies. Industrial policy and tax cuts Promote green technology.It seeks to secure a special deal by the United States for Britain, similar to what other allies such as Japan, Australia and the EU are negotiating, to create a new supply chain that will reduce its dependence on China.British manufacturers of electric vehicles that use British batteries, or products sourced from countries such as Japan with which the United States has important minerals agreements, are subject to one vehicle under Biden’s environmental promotion bill, the Inflation Control Act. Eligible for a tax credit of $3,750 per person. technology.Meanwhile, Mr. Biden has pledged to ask Congress to approve Britain as a “domestic source” under the U.S. Defense Acquisition Act, which will allow U.K. officials to make quicker and more effective decisions on new military technology. He argues that more cooperation will be possible.

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The declaration also covers other niche deals, such as “data bridges” that cut the paperwork for small exporters.The agreement includes provisions to promote mutual recognition of engineer (and later accountant) qualifications, which may require state-by-state approval in the United States.Sunak said people were wondering what kind of partner Britain would be after Brexit, adding: “Judge us by our actions.”The prime minister said the UK remained an attractive investment destination and that the UK could now move “faster and more flexibly” to create new rules on emerging technologies such as AI.There was also strong language between the two leaders. “No country is closer to us than Britain,” Biden said, while Sunak spoke of “an essential alliance.”But British diplomats acknowledged that clouds still hang over relations between the two countries. Haze from wildfires in Canada It cast a pale shadow over the US capital during Mr. Sunak’s visit.On the positive side, the US and UK have worked closely together on developing a military partnership with Ukraine. alongside Australia – Develop nuclear submarines to counter China in the Pacific.Mr Sunak also helped win Mr Biden’s trust by settling the post-Brexit dispute over Northern Ireland’s trade deal, but the US president said in May “to keep the British from fooling around”. He said he had to visit Ireland.“I am fortunate to enjoy a good relationship with President Biden,” Sunak told reporters, avoiding repeating the corny British claim that it enjoys a “special relationship” with the United States. .But Biden has criticized Brexit, and Democrats can’t understand why Sunak, who supported Brexit, limited Britain’s influence on the continent.Biden and free-market Sunak also disagree on the president’s policy of state subsidies to promote green technology. opposition party of the British Labor PartyBy contrast, I completely agree with this idea.But the two are facing voters in 2024 and may be competing in simultaneous elections next fall, further adding to the list of challenges that will bring the two leaders closer together.
https://www.ft.com/content/8f1667f8-f17b-4a56-82af-97fd812c4fe6 Joe Biden and Rishi Snak Release ‘Atlantic Declaration’ to Strengthen Economic Ties

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