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“We’ve got to make sure that we’re all on the same page, and we’re looking to Great Britain to lead that effort this fall in putting together a proposal, a group of nations, to deal with - how do we deal with this? It not only has the potential to cure cancer and many other things that are just beyond our comprehension, but has the potential to do great damage if it’s not controlled.

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Joe Biden said when he convened AI leaders in the United States, the architects of the software “were also very concerned about it getting out of hand”. Greeting Mr Sunak in the Oval Office, Mr Biden said the special relationship was in “real good shape”. The agreement could allow British manufacturers to qualify for some of the subsidies set out in the act. The deal mitigates some of the issues cause by Mr Biden’s Inflation Reduction Act, with a critical minerals agreement easing barriers which affected trade in electric vehicle batteries. The agreement comes after hopes of a full-blown free trade deal with the US were abandoned, with UK officials insisting the new, targeted approach was a better response to the economic challenges posed by Beijing and Russia’s invasion of Ukraine. The Atlantic Declaration, announced as the Prime Minister and US President met in the White House, includes commitments on easing protectionist barriers, closer defence industry ties and a data protection deal. Rishi Sunak and Joe Biden have agreed a new partnership to “reinforce” the special relationship and bolster economic security in response to China’s growing influence.