Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

‘Historic breakthrough’: US ditches defense trade restrictions with top allies to counter China

by August 16, 2024
August 16, 2024

The U.S. and its top allies have taken a significant step in removing defense trade restrictions to ensure that technology and equipment can be shared at rapid speed as the AUKUS partnership looks to counter growing Chinese threats in the Indo Pacific.

The ‘historic breakthrough’ means the U.K. and Australia will no longer be subject to strict export license controls under the U.S.’s International Trafficking in Arms Regulations (ITAR) for the ‘majority’ of Washington’s defense technology.

‘We want the U.K. to be the U.S.’s number-one ally, and Australia’s desire is to be the U.S.’s number-one ally in the Pacific,’ a U.K. official familiar with the agreement told Fox News Digital. ‘AUKUS is about us recognizing the threat that China poses and the need for us, as America’s allies, to do everything we can to be part of competing with China in that space.’

A limited number of sensitive items will remain under tight U.S. control, and the U.K. official said this is another area in which the alliance can look to deepen its trust and partnership in the face of growing adversarial aggression. 

‘We’re looking for deep collaboration with the U.S. over the coming period,’ the official said.  ‘Some of the restrictions that remain on the excluded lists will be in those very advanced technologies where the U.S. is still rightly cautious about controlling access to them and really safeguarding the technology. 

‘What we want to do with this new status quo is use it to show that our industry is equally competent of controlling those secrets, equally competent of safeguarding the technology, so we can build even more trust with the U.S., so we can expand this sharing of technology even further,’ the U.K. official added.  

The official could not pinpoint the percentage of U.S. defense weapons and technology that will remain exempt from the latest trade-sharing deal but noted that those exemptions remain only in the ‘far reaches of technology’ on systems involving artificial intelligence, autonomous weaponry and hypersonic weaponry. 

The reform is estimated to cover up to £500 million in U.K. defense exports annually along with billions of dollars of trade across all three nations, which will in turn ‘boost our shared economic growth,’ Fox News Digital was told.

The AUKUS deal comes as the U.S. and the U.K. look to help Australia acquire nuclear-powered submarines as the alliance looks to bolster its defense posture to counter Chinese aggression in the region and beyond. 

‘I think it’s very difficult to overstate how important the submarines are, in terms of the Indo-Pacific and containing China,’ the official told Fox News Digital. ‘Just because they look quite old school, they are still very, very critical to that theater.’

The alliance, which was formed in 2021 specifically to counter Beijing, was received with some frustration and concern among European allies who feared that the U.S. and the U.K. were distancing themselves from Europe at a time when security threats on the continent had reached a level not seen since World War II. 

But Washington and London have pushed back on these arguments, and in speaking with Fox News Digital, the British official highlighted that increasing ties with the U.S. can only help deepen security in theatres across the globe. 

‘The U.K. being a very close ally of the U.S. helps lock the U.K. and the U.S. together in NATO,’ the official argued. ‘I don’t think this does anything to distance us from that. 

‘If anything, it gives us both even better capability and even better interoperability to work together in the Euro-Atlantic area if we needed to do that militarily,’ the official added. 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Consumer Discretionary New IT BULLISH Bias
next post
Biden says admin is ‘closer than we’ve ever been’ to cease-fire deal in Middle East

You may also like

New poll reveals which Trump policies Americans love...

February 12, 2025

Joe Biden Says the Quiet Part Out Loud:...

October 24, 2022

Israel is waging war against Hamas now but...

October 10, 2023

Here are the agencies that followed Musk’s DOGE...

February 25, 2025

Trump may not be the only Republican candidate...

October 19, 2023

House Dems threaten to block Trump’s big tariff...

January 17, 2025

Netanyahu tells Biden Israel will act militarily against...

December 10, 2023

SEN BERNIE SANDERS: My plan for the Trump...

January 19, 2025

‘Clear vision’: Conservatives rally around Hegseth after ‘crushing’...

January 15, 2025

Can’t Make This Up… FBI Sends Out Agent...

October 9, 2022

New poll reveals which Trump policies Americans love...

February 12, 2025

Joe Biden Says the Quiet Part Out Loud:...

October 24, 2022

Israel is waging war against Hamas now but...

October 10, 2023

Here are the agencies that followed Musk’s DOGE...

February 25, 2025

Trump may not be the only Republican candidate...

October 19, 2023

House Dems threaten to block Trump’s big tariff...

January 17, 2025

Netanyahu tells Biden Israel will act militarily against...

December 10, 2023

SEN BERNIE SANDERS: My plan for the Trump...

January 19, 2025

‘Clear vision’: Conservatives rally around Hegseth after ‘crushing’...

January 15, 2025

Can’t Make This Up… FBI Sends Out Agent...

October 9, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Department of Justice opens criminal investigation into NY AG Letitia James

      May 9, 2025
    • Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

      May 9, 2025
    • White House highlights over $2B in savings from DEI cuts during Trump administration’s first 100 days

      May 8, 2025
    • GOP talk on millionaire tax hike ‘makes no sense,’ Trump White House alum says

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • Los Angeles Corruption

      May 8, 2025

    Categories

    • Business (7,921)
    • Investing (1,942)
    • Politics (15,152)
    • Stocks (3,067)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved