Rome: US President Joe Biden The Group of 20 summit is convening on Sunday to talk about ways to address the supply chain bottlenecks that are crippling the global economy as it recovers from the coronavirus pandemic.
Despite devoting a combined $15 trillion to combating the fallout from Covid-19, many of the world’s biggest economies are sloganing for massive shortages as ships wait to dock, shipping container prices soar. However, there are not enough trucks to ferry goods to and from the ports, and the virus outbreak halts factory production.
Supply chain issues have emerged as a point of economic and political pain for Biden, as delays have contributed to inflation and potentially put a damper on holiday shopping. Republican lawmakers have cited the threat of inflation and supply chain challenges in their criticism of Biden’s economic leadership.
At Sunday’s meeting, the president plans to discuss how each country can identify and address obstacles at the G-20, a senior administration official requested anonymity to discuss the plans. The goal is to help relieve pressures and promote growth.
There is also a broader goal of greater coordination between countries so that supply chains are more flexible. This means increased transparency on shipping issues, so that potential problems can be identified and resolved. Factories closed after the pandemic, Biden There are plans to discuss how countries can identify strategies to ensure production of essential goods, such as computer chips, is not taken offline for extended periods.
The senior administration official said the president plans to announce reserves of vital minerals and metals as well as US resources to end blockages at major ports around the world.
Biden will also meet with Turkish President Risp Tayip Erdogan Sunday Morning. Biden ends his time in Rome on Sunday and heads to Glasgow, Scotland, for the United Nations Climate Conference on Monday.
The president will end the day by holding a news conference where his domestic agenda may attract as much attention as his foreign policy efforts. House Democrats are expected to vote on Tuesday on a plan to spend $1.75 trillion for families, health care and the environment, as well as their $1 trillion infrastructure plan, which has already been approved. managing committee.
Despite devoting a combined $15 trillion to combating the fallout from Covid-19, many of the world’s biggest economies are sloganing for massive shortages as ships wait to dock, shipping container prices soar. However, there are not enough trucks to ferry goods to and from the ports, and the virus outbreak halts factory production.
Supply chain issues have emerged as a point of economic and political pain for Biden, as delays have contributed to inflation and potentially put a damper on holiday shopping. Republican lawmakers have cited the threat of inflation and supply chain challenges in their criticism of Biden’s economic leadership.
At Sunday’s meeting, the president plans to discuss how each country can identify and address obstacles at the G-20, a senior administration official requested anonymity to discuss the plans. The goal is to help relieve pressures and promote growth.
There is also a broader goal of greater coordination between countries so that supply chains are more flexible. This means increased transparency on shipping issues, so that potential problems can be identified and resolved. Factories closed after the pandemic, Biden There are plans to discuss how countries can identify strategies to ensure production of essential goods, such as computer chips, is not taken offline for extended periods.
The senior administration official said the president plans to announce reserves of vital minerals and metals as well as US resources to end blockages at major ports around the world.
Biden will also meet with Turkish President Risp Tayip Erdogan Sunday Morning. Biden ends his time in Rome on Sunday and heads to Glasgow, Scotland, for the United Nations Climate Conference on Monday.
The president will end the day by holding a news conference where his domestic agenda may attract as much attention as his foreign policy efforts. House Democrats are expected to vote on Tuesday on a plan to spend $1.75 trillion for families, health care and the environment, as well as their $1 trillion infrastructure plan, which has already been approved. managing committee.
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