(NBC News) — Watch live coverage of President Joe Biden delivering remarks about a national security initiative.

WASHINGTON (AP) — President Joe Biden has announced that the United States is joining a new Indo-Pacific security alliance with Britain and Australia that will allow for greater sharing of defense capabilities. It's a move that could deepen a growing chasm in U.S.-China relations.

Biden, as well Britain’s Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison, delivered remarks during a joint virtual event Wednesday detailing the new alliance, to be called AUKUS.

The new security alliance is likely to be seen as a provocative move by China.