Rishi Sunak and Joe Biden announce sweeping new economic pact to tear down trade barriers
The new deal will make it easier to import and export the vital resources like lithium and cobalt that are used in the production batteries and solar panels.
The agreement comes after hopes of a full-blown free trade deal were abandoned, with UK officials insisting the new, targeted approach was a better response to the economic challenges posed by Beijing and Russia’s invasion of Ukraine. The two nations will also collaborate on key industries - artificial intelligence, 5G and 6G telecoms, quantum computing, semiconductors and engineering biology.
“So it’s natural that, when faced with the greatest transformation in our economies since the industrial revolution, we would look to each other to build a stronger economic future together."
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