File photo dated July 4, 2017 of French president Emmanuel Macron looks through the periscope of submarine "Le Terrible" during a visit to the vessel. President Joe Biden on Wednesday had announced a new US security alliance with Australia and Britain that would develop an Australian nuclear-powered submarine fleet. As a result, Australia notified France that it would end its contract with state majority-owned DCNS to build 12 of the world’s largest conventional submarines. Australia has spent 2.4 billion Australian dollars ($ 1.8 billion) on the project since the French won the contract in 2016. Photo by Fred Tanneau/ Pool /ABACAPRESS.COM