WASHINGTON (Reuters) – President Joe Biden begins a foreign trip this week that will include summits with the leaders of the G7 major economies and NATO along with one-on-one meetings with the presidents of Russia and Turkey.
These are some of the issues on his agenda.
G7 finance ministers reached a landmark global deal on Saturday to set a minimum global corporate tax rate of at least 15%, potentially hitting giant tech companies like Alphabet Inc’s Google, Facebook Inc and Amazon.com Inc. Biden and his counterparts will give the deal their final blessing in Cornwall.
COVID-19 AND VACCINE WAIVERS
The Biden administration, which on Thursday detailed its plans to donate 80 million doses of COVID-19 vaccines globally by the end of June, is leaning heavily on allies to follow suit as the global pandemic death toll approaches 4 million, U.S. and diplomatic sources said.
Washington reversed course last month and backed negotiations over waivers for intellectual property protections at the World Trade Organization to speed vaccine production in developing countries, much to the chagrin of Germany and Britain.
European diplomats said they see little common ground on the issue and argue that any WTO compromise would take months to finalize and implement. That may prove a moot point if sufficient vaccine doses are shared with developing countries to slow – and eventually halt – the pandemic.
CLIMATE CHANGE DISCLOSURES
Biden announced plans in May to require U.S. government contractors and financial institutions to be more transparent about the climate change risks faced by their investments, and administration officials are pushing other countries to adopt similar plans.
The UK also wants governments to require businesses to report such risks as a way to boost investment in green projects. But agreement on a way forward is unlikely to come in June. A deal could emerge at a U.N. climate summit in Glasgow, Scotland, in November.
G7 countries also have different views on carbon pricing, which the International Monetary Fund views as a key way to curb carbon dioxide emissions and reach net-zero emissions by 2050.
CHINA’S FORCED LABOR
The Biden administration will urge allies to unite against China over allegations of forced labor in Xinjiang province, home to the Muslim Uighur minority, even as it seeks to maintain Beijing as an ally in the climate change fight.
Sources following the discussions said they expect G7 leaders to adopt strong language on the forced labor issue. China denies all accusations of abuse in Xinjiang.
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