Biden and Sunak pledge cooperation on A.I., minerals, and Ukraine.
President Joe Biden and UK Prime Minister Rishi Sunak signed the "Atlantic Declaration" to strengthen economic security against threats from Russia and China. The agreement includes mini-deals on AI, critical minerals, clean energy, and security. The UK will receive $17.5 billion of new US investment, and the two sides will undertake joint research in areas like quantum, semiconductors, and AI. Talks will begin on an agreement that would allow electric vehicle minerals mined in the UK to receive tax benefits under Biden's Inflation Reduction Act. Biden will ask Congress to label Britain as a "domestic source" within the US Defense Production Act, giving suppliers in the country more favorable terms.