Rishi Sunak, has said he is looking forward to discussing the U.S.A.’s flagship package of investment in green industries
The Prime Minister of the United Kingdom (U.K.) – Rishi Sunak, has said he is looking forward to discussing the United States (U.S.’s) flagship package of investment in green industries when he meets the President of the U.S. – Joe Biden, during his upcoming trip to the U.S.
Sunak will meet Biden tomorrow, i.e., Thursday, June 8, 2023. This would be the fourth meeting of Sunak with Biden in 2023. Sunka would also be meeting business leaders and senior politicians.
Sunak also said there are better solutions than subsidy races to hit climate goals. Some British ministers have criticized Biden’s Inflation Reduction Act (IRA) as harmful to world trade. The law includes a U.S. $ 370 billion (£ 297 billion) fund to boost green technology in the U.S. In a drive to cut carbon emissions, billions in tax credits and subsidies have been allocated to speed up the production of solar panels and wind turbines and encourage the uptake of electric cars. Meanwhile, the European Union (E.U.) has described the law as anti-competitive.
In addition, Sunak would also talk about boosting green tech, the war in Ukraine, and the regulation of Artificial Intelligence (A.I.). He would also seek to promote economic security, bringing it into line with the level of U.K.-U.S. cooperation on defense.
Taking it to Twitter, Sunak tweeted,
When I think of America, I think of opportunity, enterprise and freedom – values the UK share.
— Rishi Sunak (@RishiSunak) June 6, 2023
We’ve always worked in lockstep to protect our people.
Now the UK and US need to build an alliance that also protects our economies.
That’s my focus as I head to Washington DC. pic.twitter.com/dLsInd07IB
The two leaders will also discuss the war in Ukraine, which is expected to enter a decisive period soon, with signs a long-awaited counter-offensive from Ukrainian forces may have begun.
There are reports that the U.S. and U.K. could unveil a critical minerals pact allowing British car makers that export electric vehicles to the U.S. to benefit from some of the tax credits offered to American firms. The U.S. already has a similar deal with Japan and is in talks with the E.U.
However, progress has stalled over a wider U.K.-U.S. free trade deal, where President Biden has put talks on ice, leaving the U.K. to deepen trade ties through less comprehensive mini-deals with around 20 States. Another area where Sunak hopes to hold discussions is the regulation of A.I., as Sunak wants to carve out a role for the U.K. as a global player. The U.K. will host a Global Summit on A.I. regulation in the autumn.
