Berliner Boersenzeitung - US, Britain forge pact to counter new threats

EUR -
AED 4.356774
AFN 78.29704
ALL 96.521786
AMD 448.215948
ANG 2.123615
AOA 1087.859728
ARS 1705.652023
AUD 1.716546
AWG 2.135383
AZN 2.016149
BAM 1.953255
BBD 2.384742
BDT 144.881211
BGN 1.992277
BHD 0.44723
BIF 3489.306166
BMD 1.186324
BND 1.502591
BOB 8.199316
BRL 6.273641
BSD 1.184027
BTN 107.601789
BWP 15.583234
BYN 3.376272
BYR 23251.95334
BZD 2.381347
CAD 1.62826
CDF 2615.844603
CHF 0.922245
CLF 0.025981
CLP 1025.873497
CNY 8.250114
CNH 8.248654
COP 4377.239533
CRC 585.91676
CUC 1.186324
CUP 31.43759
CVE 110.121505
CZK 24.246449
DJF 210.850806
DKK 7.468154
DOP 74.14089
DZD 153.371786
EGP 55.837788
ERN 17.794862
ETB 184.057981
FJD 2.626462
FKP 0.866184
GBP 0.86782
GEL 3.191012
GGP 0.866184
GHS 12.912175
GIP 0.866184
GMD 87.190589
GNF 10371.136111
GTQ 9.087159
GYD 247.727197
HKD 9.25407
HNL 31.401819
HRK 7.537553
HTG 155.171263
HUF 382.207562
IDR 19887.538051
ILS 3.69951
IMP 0.866184
INR 108.796559
IQD 1554.084637
IRR 49973.905006
ISK 145.40787
JEP 0.866184
JMD 186.38085
JOD 0.841061
JPY 183.529277
KES 153.035889
KGS 103.744418
KHR 4780.886292
KMF 495.287055
KPW 1067.714764
KRW 1717.512739
KWD 0.363917
KYD 0.986714
KZT 594.944752
LAK 25544.498694
LBP 101490.031148
LKR 366.589223
LRD 219.054559
LSL 19.01078
LTL 3.502906
LVL 0.717596
LYD 7.477099
MAD 10.828174
MDL 19.974803
MGA 5344.390508
MKD 61.662888
MMK 2491.339286
MNT 4229.405078
MOP 9.509808
MRU 47.296609
MUR 54.001336
MVR 18.340457
MWK 2055.899719
MXN 20.581098
MYR 4.690764
MZN 75.628343
NAD 19.010854
NGN 1673.939475
NIO 43.535036
NOK 11.612156
NPR 172.156865
NZD 1.990294
OMR 0.456158
PAB 1.184057
PEN 3.975969
PGK 5.138131
PHP 70.091552
PKR 331.557177
PLN 4.205857
PYG 7957.463267
QAR 4.319821
RON 5.097281
RSD 117.41043
RUB 90.725717
RWF 1723.72899
SAR 4.448603
SBD 9.586647
SCR 16.501787
SDG 713.57683
SEK 10.613959
SGD 1.505149
SHP 0.89005
SLE 28.934523
SLL 24876.623394
SOS 675.497012
SRD 45.228607
STD 24554.514726
STN 24.497594
SVC 10.3605
SYP 13120.240787
SZL 19.004943
THB 36.9148
TJS 11.053383
TMT 4.163998
TND 3.393184
TOP 2.856384
TRY 51.482162
TTD 8.046515
TWD 37.34727
TZS 3025.688929
UAH 51.047291
UGX 4197.530372
USD 1.186324
UYU 44.432289
UZS 14372.317183
VES 424.955119
VND 31007.547471
VUV 142.059128
WST 3.237826
XAF 655.086817
XAG 0.010632
XAU 0.000234
XCD 3.2061
XCG 2.133919
XDR 0.814714
XOF 655.435531
XPF 119.331742
YER 280.916743
ZAR 19.053125
ZMK 10678.338222
ZMW 23.118388
ZWL 381.995892
  • RIO

    0.0400

    90.47

    +0.04%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSC

    0.0300

    23.78

    +0.13%

  • BCE

    -0.0500

    25.15

    -0.2%

  • BTI

    -0.1700

    58.99

    -0.29%

  • CMSD

    0.0300

    24.16

    +0.12%

  • NGG

    1.0800

    82.58

    +1.31%

  • GSK

    1.1700

    50.32

    +2.33%

  • RBGPF

    -0.8300

    82.4

    -1.01%

  • BCC

    -0.9300

    83.4

    -1.12%

  • AZN

    1.2800

    94.23

    +1.36%

  • BP

    0.2300

    36.76

    +0.63%

  • JRI

    0.0500

    13.73

    +0.36%

  • RELX

    -0.3900

    39.51

    -0.99%

  • RYCEF

    0.0000

    17.12

    0%

  • VOD

    0.0600

    14.23

    +0.42%

US, Britain forge pact to counter new threats
US, Britain forge pact to counter new threats / Photo: ANDREW CABALLERO-REYNOLDS - AFP

US, Britain forge pact to counter new threats

The United States and Britain on Thursday announced a new strategic pact as their leaders rededicated the "special relationship" to counter Russia, China and economic instability.

Text size:

In a White House summit, US President Joe Biden and British Prime Minister Rishi Sunak presented a united front on Russia's invasion of Ukraine and the lightning-fast evolution of artificial intelligence.

But Sunak came away empty-handed on Britain's ambitions for a post-Brexit free-trade agreement with Washington, settling instead to tack along with Biden's plan to craft a new green economy through vast industrial subsidies.

An "Atlantic Declaration" adopted by the leaders aims to boost industry ties on defense and renewable energy, in the face of growing competition from authoritarian states.

"Countries like China and Russia are willing to manipulate and exploit or steal our intellectual property, use technology for authoritarian ends, or withdraw crucial resources like energy," Sunak told a news conference alongside Biden.

"They will not succeed," the prime minister added.

Under the declaration, the two sides agreed to open talks on US treatment of critical minerals used in electric batteries in Britain.

Biden also agreed to ask Congress to designate Britain as a domestic source for defense procurement, to speed up development of next-generation weapons such as hypersonic missiles.

- 'Never been stronger' -

Despite the lack of a trade deal, Sunak said "the economic relationship has never been stronger," describing the "special relationship" as in fact the "indispensable alliance."

Sunak's first White House summit was equally about reforging personal relationships after Britain went through three prime ministers last year, and after Biden, proud of his Irish roots, made clear his displeasure about Boris Johnson's handling of Northern Ireland.

Biden agreed that for the United States, "there's no country that comes close" in importance as Britain -- words he was unlikely to say in the post-Brexit discord seen under Johnson.

Both leaders concurred that the world economy was undergoing the biggest changes since the Industrial Revolution, in part driven by AI, which is prompting doomsday warnings that sentient machines could wipe out humanity unless governments coordinate a response.

Biden backed Sunak's plan to convene "like-minded" countries for the world's first AI summit in Britain later this year -- while the prime minister also wants the UK to host a future AI regulatory body.

"The potential of AI is staggering," the president said, saying it had "the potential to do great damage if it's not controlled."

"We are looking to Great Britain to help lead a way through this. There is no country we have greater faith in to help negotiate our way through this," Biden added.

Yet there are headwinds for Sunak's ambitions, with the United States and European Union already engaged in their own dialogue on an AI code of conduct as industry figures plead for regulation.

- NATO leadership -

Biden and Sunak promised to keep spearheading global support for Ukraine, after committing billions of dollars in military aid to help Kyiv fight Russian invaders.

Biden said that they discussed their "unwavering support for the people of Ukraine who are defending themselves against most brutal aggression we have seen in a long time."

"I want to thank the prime minister for his strong, strong leadership," he said, also voicing confidence that the United States, despite hesitation from some of his Republican rivals, will provide "funding necessary to support Ukraine as long as it takes."

Sunak and Biden discussed the leadership of NATO, with British Defense Secretary Ben Wallace among the contenders as the alliance prepares a summit in Vilnius next month.

"They have a candidate who's a very qualified individual," Biden said of Wallace's candidacy, responding "maybe" when asked if it was time for another British secretary-general of NATO.

Current Secretary-General Jens Stoltenberg, who has won high marks from allies for his leadership in the war, is scheduled to leave in October.

He already extended his tenure once, postponing his appointment as central bank chief in his native Norway.

But Biden said that NATO needed a "consensus." The prime ministers of Denmark and Estonia are also seen as contenders.

(F.Schuster--BBZ)