US to reduce licensing by 80 per cent for UK, Australia

News Snapshot:

The US Commerce Department is scaling back export control requirements for Australia and the United Kingdom to foster defence trade under the three countries' AUKUS security pact, reducing licensing burdens. Under a rule changed posted by Commerce on Thursday, US export licensing for the UK and Australia will be nearly the same as Canada. AUKUS, formed by the three countries in 2021, is a partnership to enhance security and defence co-operation and address common concerns related to China. The new rule allows Commerce-controlled military items, missile technology and hot engine items to be exported to Australia and the UK without...