US and UK back new 'Atlantic Declaration' for economic cooperation

WASHINGTON/LONDON : Britain and the United States backed a new"Atlantic Declaration" on Thursday for greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence.

Under the plan, Britain and the United States will strengthen their supply chains, develop technologies of the future and invest in one another's industries, British Prime Minister Rishi Sunak's office said. The two countries also agreed to work together on ensuring the safe development of AU technology, starting with Britain hosting a global summit later this year.

The two nations will also begin negotiations on a critical minerals agreement, which would allow some UK firms to access tax credits available under the U.S. Inflation Reduction Act.

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