Recommendation 1

HM Government Acknowledged

The US is our closest ally and largest trading partner. Our bilateral relationship continues to be underpinned by the closest cooperation on defence and security, powerful economic connections, partnership in science and technology, and deep ties between our people and civil societies. Through the Economic Prosperity Deal (EPD) and the Tech Prosperity Deal announced in September, we are working towards a partnership that is future-facing and built on a shared vision of the challenges that face our economies. Economic security cooperation on areas included in the EPD, including investment screening and export controls, will ensure that the UK and US focus on outcomes reflecting our shared national security interests. We will continue to work together on how best we achieve those outcomes, using our own robust processes. As part of delivering on the commitments of the EPD, the UK secured £150 billion worth of investment commitments from US tech companies through the Tech Prosperity Deal (TPD) at the State Visit. This will create 7600 high-quality jobs and boost key Industrial Strategy sectors, including clean energy, life sciences and advanced manufacturing, showing that our approach to trade with the US is working. The Digital and Technologies sector, another priority sector in the Industrial Strategy, is also critical to delivering growth by seizing the opportunities of a future economy, from AI to net zero. Access to the US was identified as a priority for businesses in the growth-driving sectors set out in the Industrial Strategy, including advanced manufacturing and life sciences. The Industrial Strategy and Trade Strategy together include new tools and policies enabling a more activist state able to give UK businesses the support they need. This means bolstering supply chains, cooperating on export controls, and pursuing multilateral relationships. We are securing the future for the UK, while collaborating with our trusted friends overseas, including the US. This Government remains firmly committed to supporting the UK’s critical minerals sector and building secure and diverse supply chains. We believe it has a vital role to play in supporting our Industrial Strategy, energy transition and national security–supporting high-value jobs and underpinning technologies such as batteries, wind turbines, and semiconductors. The upcoming Critical Minerals Strategy will provide more detail on the Government’s approach to this important sector.