WATCH: Joe Biden refers to Australian Prime Minister as ‘that fella down under’

After finishing his statement, Johnson handed it over to Biden. Biden thanked Johnson, and said to Morrison, "I want to thank that fellow down under. Thank you very much pal," not calling him by name.

During the brief press conference, the three announced that as the first step of the trilateral partnership between the countries, they would be creating a fleet of nuclear powered submarines.

All three leaders made a point to stress that these submarines are powered by nuclear cores, but would not possess nuclear weapons.

Both Biden and Morrison noted that the partnership would be crucial in the Inso-Pacific, with Morisson stating that the "future of the Indo-Pacific will impact all our futures."

As part of the partnership, the countries technologies, scientists, industries, and defense forces will all be working together "to deliver a safer and more secure region that ultimately benefits all."

As part of the partnership, and the building of Australia's submarine fleet, Johnson said that hundreds of highly skilled jobs would be created across the UK.

Biden stated that the partnership between the coutnries would allow each to "update and enhance our shared ability to take on the threats of the 21st century just as we did in the 20th century, together."

He added that the partnership was created "because we all recognize the imperative of ensuring peace and stability in the Indo-Pacific over the long term. We need to be able to address both the current strategic environment in the region, and how it may evolve, because the future peace of our nations and indeed the world, depends on a free and open indoor-pacific enduring and flourishing in decades ahead."