The two sides will kick off negotiations on the use of minerals from the UK

ITDC INIDA EPRESS/ ITDC NEWS:  President Joe Biden and British Prime Minister Rishi Sunak on Thursday reiterated their commitment to help Ukraine repel Russia's ongoing invasion while agreeing to step up cooperation on challenges their economies face with artificial intelligence, clean energy, and critical minerals.

The leaders said the first-of-its-kind agreement that they are calling the Atlantic Declaration will serve as a framework for the two countries on the development of emerging technologies, protecting technology that is critical to national security and other economic security issues.

We will put our values front and center," Biden said as the two leaders started talks in the Oval Office. He later added at a joint news conference that the agreement will help both nations adapt and upgrade our partnership to ensure our countries remain on the cutting edge of a rapidly changing world.

As part of the declaration announced Thursday, the two sides will kick off negotiations on the use of minerals from the U.K. that are critical in the production of electric vehicles that are eligible for U.S. tax credits. The administration has also opened talks with the European Union and forged a deal with Japan that allow certain critical raw materials for EVs to be treated as if they were sourced in the United States.

Allies have raised concerns about incentives in the Inflation Reduction Act favouring the North American auto industry. The legislation one of Biden's key policy victories invests some $375 billion to transition the United States to cleaner cars and energy sources.

Biden and Sunak have already had four face-to-face meetings since Sunak became prime minister in October, but the talks in Washington offered the two leaders a chance for their most sustained interaction to date.

Sunak reflected on the significant conversations their respective predecessors have had over the years in the Oval Office and acknowledged that both he and Biden were facing their own daunting moments. The visit to Washington is Sunak's first since becoming Britain's prime minister in October.

Our economies are seeing perhaps the biggest transformation since the Industrial Revolution as new technologies provide incredible opportunities, but also give our adversaries more tools, Sunak said.