• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

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

by August 16, 2024
written by 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 comment
0
FacebookTwitterPinterestEmail

previous post
House Oversight investigating Walz over ‘longstanding connections’ to China
next post
Recalled cucumbers linked to at least 449 illnesses have been pulled from stores, CDC says

related articles

Schumer’s shutdown scheme explained: Dems double down on...

October 6, 2025

Mike Johnson fires back at Hakeem Jeffries’ ‘desperate’...

October 6, 2025

Trump flips his shutdown approach, leaving Congress to...

October 6, 2025

More lawmakers say they’re rejecting paychecks as government...

October 6, 2025

Self-described ‘unapologetic supporter of Israel’ John Fetterman weighs...

October 6, 2025

Trump warns of ‘massive bloodshed’ if Hamas fails...

October 5, 2025

Trump announces Israel agrees to Gaza ‘initial withdrawal...

October 4, 2025

‘Schumer shutdown’ already cost taxpayers $1.2B in pay...

October 4, 2025

Mike Johnson rallies House Republicans on government shutdown...

October 4, 2025

Mike Waltz sees Trump’s Gaza plan as ‘once-in-a-generation...

October 4, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • China-linked hacking group targets phones belonging to Trump family, Biden aides: report

    October 29, 2024
  • ROBERT MAGINNIS: Don’t be misled—Iran isn’t days away from a nuclear bomb

    June 21, 2025
  • Chip Roy follows Trump’s lead with bill to ‘beat China’ on trade

    April 3, 2025
  • WATCH: Trump says he is hopeful Hillary Clinton will be investigated for election fraud

    August 1, 2025
  • Trump reveals who he believes left infamous bag of cocaine at White House

    March 1, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,272)
  • Investing (634)
  • Stock (935)

Latest Posts

  • McKinsey & Co. to pay $650M to settle opioid consulting probe, ex-partner to plead guilty

    December 16, 2024
  • What to know about DOGE and its quest to slash government waste, spending

    January 7, 2025
  • LAPD ends Kamala Harris security after union backlash over elite officer use: report

    September 8, 2025

Recent Posts

  • Tim Walz said he went to China ‘dozens’ of times, now his campaign says its ‘closer to 15’

    October 1, 2024
  • S&P 500 and Nasdaq: The S&P 500 is up this morning

    August 30, 2024
  • Jordan remains ‘last holdout’ as Iran looks to create new ‘terror front’ on Israeli border

    August 13, 2024

Editor’s Pick

  • Trump wants ‘activist’ groups that sue the government to put up money if they lose

    March 6, 2025
  • Treasury Department recoups $31 million in improper government payments to dead people

    January 17, 2025
  • Federal judge rules against Trump order halting sex change procedures in prisons

    June 3, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock