Name: What is the special relationship? | CNBC Explains
Uploaded: 2019-01-07T08:54:39.000Z
Duration: 4 min 44 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Americans and Brits both speak English, but when it comes to language, we still have our differences.

Adverbs of degree

But there is one phrase that we do have in common.

The phrase has been used by leaders from our two countries

for more than 70 years to reinforce diplomatic ties.

The term special relationship was officially coined by Winston Churchill in 1946

following the allied victory over Nazi Germany.

Churchill said the U.K. and the U.S. were each other's biggest allies,

not least because they shared the same language.

The phrase reinforced common cultural, political and economic ties between the two countries

as they faced the growing threat of communism.

And many of those ties still exist today.

When it comes to foreign investment, the U.K. and the U.S. pour more money

into each other's economies than any other country in the world.

More than 1.1 million Americans work for British companies in the U.S.

and nearly 1.4 million Britons are directly employed by U.S. affiliates.

Now we know relations between our two countries haven't always been perfect.

Let's not forget the whole reason we became the United States.

Come on Elizabeth, that was nearly 300 years ago. Let's move on.

Alright, alright. Let's go back to the 1940s.

Close ties between the U.S. and the U.K. helped lay the groundwork for the creation of NATO,

an alliance between several countries that wanted protection

from the Soviet Union's growing sphere of influence.

Intelligence sharing during this time also became a bond that tied the U.S. and U.K. together.

The countries established the UKUSA Agreement,

an alliance that allowed them to share highly-classified information.

During the Cold War however the special relationship was not without its own hiccups.

In 1956, the relationship hit a rocky patch during the Suez crisis

when British prime minister Anthony Eden was pressured by U.S. president Dwight Eisenhower

into withdrawing the U.K.'s military operation in Egypt.

Was it likely to endanger widespread British and international interests?

The U.S. was the dominant partner in the relationship.

Just look at the size of their economies.

In the U.S. GDP is over $19 trillion, while in the U.K. it's around $2.5 trillion.

And the U.K. relies on the U.S. as its most important trading partner.

It exports $130 billion worth of goods to the U.S.

That's more than double what it sends to Germany, its second-biggest trading partner.

So why does the U.S. even need a special relationship with a smaller economy like the U.K., Tom?

Well Elizabeth, good relationships aren't just about money.

Think of the military and diplomatic ties,

not to mention the cultural collaborations between our two nations.

I mean, what about Taylor and Burton, remember them?

No, not exactly, but I do remember Prince Harry and Meghan Markle.

Margaret Thatcher met her ideological soulmate in Ronald Reagan during the 1980s.

a joint commitment to free markets, capitalism and small government.

When it comes to military action, the U.K. and U.S. have followed one another into conflicts around the world.

After 9/11 Tony Blair got behind George W. Bush and Britain joined the U.S. in the Iraq War

And Barack Obama went the extra mile for David Cameron by publicly backing his anti-Brexit position.

The U.K. is going to be in the back of the queue.

Which leaves us with Theresa May and Donald Trump.

So far it's been love/hate between these two.

They were cozy at the White House after President Trump's election.

But since then President Trump has gone after the Prime Minister on Twitter,

even canceling a scheduled visit here to London, citing the cost and his dislike of the new U.S. embassy.

By playing hard to get the President could be trying to fulfil his “America First” agenda.

But with Britain's post-Brexit future still unclear, the special relationship could be more important than ever.

Tom and Elizabeth here, thanks for watching.

Be sure to check out more of our videos over here.