Rishi Sunak and Joe Biden have signed the ‘Atlantic Declaration’ solidifying the UK's alignment with the economic policies of the US administration and signalling a revitalization in relations following the turbulence of Brexit.
During a press conference held at the White House to unveil the declaration, Sunak explicitly stated that the strengthened ties aim to enhance economic security in response to threats posed by China and Russia.
While the declaration, released at the conclusion of Sunak's visit to Washington, primarily consists of a series of smaller economic agreements with limited disclosed details, its symbolism carries significant weight. It signifies a departure from the UK's recent emphasis on unrestricted free trade in favour of mutually protective measures.
Moreover, the announcement effectively extinguishes any hope of a comprehensive trade deal with the US, which was a major commitment in the Conservative Party's 2019 manifesto. Addressing concerns about the absence of a broader trade agreement, Sunak maintained that the declaration would still benefit UK companies and effectively address the specific opportunities and challenges faced presently and in the future.
Biden also emphasized UK's potential to play a significant role in supplying the US with green technologies like batteries. The president expressed support for Sunak's proposal of the UK serving as a hub for artificial intelligence (AI) regulation. He mentioned plans for an upcoming conference on the subject in the autumn, indicating a shared interest in advancing AI governance.
Instead of pursuing a comprehensive post-Brexit free trade deal, the announced agreement focuses on establishing sector-specific agreements that cover various areas, including defence procurement, data sharing, and recognition of professional qualifications.
Sunak referred to the agreement as "the indispensable alliance," presenting a fresh perspective on the widely discussed special relationship between the UK and the US.
