UK and US Sign Landmark Atlantic Declaration to Boost Economic Security and Counter China Threat

The UK Prime Minister, Rishi Sunak, and US President Joe Biden have agreed a new partnership called the Atlantic Declaration to boost economic security in response to the growing threat of China.

The agreement includes a narrow trade pact covering critical minerals used in electric car batteries, closer defence industry cooperation, easing trade barriers, and a new data protection deal.

The UK prime minister highlighted that the partnership "protects our citizens" and includes new US investment for the UK, as well as stronger supply chains and reduced trade barriers.

The UK and US will work together on artificial intelligence safety.

The prime minister acknowledged that the government had failed to deliver on its election pledge to land a full-fat free trade deal with the US, but insisted that the UK-US economic partnership is still strong and reflects new threats.

The United States and the United Kingdom have taken steps to increase their energy security and reduce their dependence on Russia by working on improving the resilience of critical supply chains.

This includes efforts to shut Russia out of the global civil nuclear market.

Allies are also working on strengthening semiconductor supply chains.

A deal on data protection is expected to ease the burden on small firms doing transatlantic trade, potentially saving £92m.