The UK and US economic alliance to be safeguarded for British prosperity

As Prime Minister Rishi Sunak travels to Washington DC, he will tell US lawmakers and entrepreneurs that the UK and US economic alliance and defence cooperation must be a top priority for the economy of both countries

The UK Prime Minister hopes to emphasise that by fostering extensive collaboration on British and American economic matters, we can continue to ensure that the defence partnership that’s been safeguarding our citizens over the years will continue for the forthcoming century.

PM Sunak, in his official press release from 10 Downing Street, stated that there is a concerning trend of hostile states using economic coercion to their advantage. Examples include Putin’s manipulation of European energy prices and China’s frequent use of sanctions against individuals and governments critical of human rights abuses.

Jointly protecting British and American markets and industries

While prioritizing traditional security, it is crucial to acknowledge that adversaries are increasingly targeting alternative domains. They manipulate global markets, withhold vital resources, and aim to gain control over industries that shape our future.

The Prime Minister emphasized the growing importance of economic security alongside traditional security. Explaining that as malicious actors are targeting global markets, controlling vital resources, and seeking dominance in future industries, there is a necessity for extensive cooperation to protect the safety and prosperity of the citizens.

A UK and US economic alliance: A closer look

The economic alliance between the United Kingdom and the United States is a significant partnership that warrants closer examination.

This alliance, forged through a long history of shared economic interests and cooperation, has had a profound impact on both nations and the global economy as a whole.

At its core, the UK and US economic alliance is built upon robust trade relations and extensive investment ties. Both countries are major players in international trade, with a wide range of goods and services flowing between their borders.

• The trade relationship between the two countries is valued at £279 billion annually.
  Investments in each other’s economies have exceeded £1 trillion.
• US firms have announced over £14 billion of new investments in the UK.
  These investments include projects in various sectors such as green hydrogen, Mars facility, financial services, healthcare, etc.
• The new investments are expected to create approximately 2,500 jobs.
  Notable investments by US companies include BlackRock (£9 billion), Blackstone (£2.4 billion), KKR (£2 billion), and CD&R (£521 million).
• Other recent major investments by US companies in the UK amount to nearly £17 billion.
• The interconnection between the economies is demonstrated by the large number of Brits working for American companies and Americans working for British companies (1.5 million and 1.2 million, respectively).

Prime Minister’s Visit: Strengthening UK-US economic ties

During his visit to the US, the Prime Minister will work towards strengthening the economic ties between the UK and the US by advocating for joint action to protect against external threats, enhance supply chains, and promote future industries. The enhanced UK-US economic relationship offers significant opportunities to boost the economy and generate higher-paying jobs, aligning with the Prime Minister’s priorities.