G7 to ‘reduce risk and diversify’ ties with China, resist economic coercion: US President Joe Biden
US President Joe Biden said on Sunday that the countries of the Group of Seven (G7) look forward to “reducing risk and diversifying” their ties with China. Joe Biden said it means standing up to their economic coercion and countering the harmful practices that hurt our employees.
“We don’t want to break away from China. We want to de-risk and diversify our relationship with China, which means taking steps to diversify our supply chains so we don’t depend on one country for essential products. It means resisting “together economic coercion and counteracting harmful practices that harm our workers. It means protecting that narrow set of advanced technologies that are critical to our national security. Those elements were all agreed upon by the G7,” Joe Biden said.
Chinese ‘spy balloon’ incident
The US president also answered a question about not having a military hotline with China and said he talked to Chinese President Xi Jinping about it, but then the “silly” spy balloon incident happened.
“You are right. We should have an open hotline. At the Bali conference, President Xi and I agreed that we should meet, and then the crazy balloon that was being carried… spy equipment flew over the United States. It got shot and everything changed in terms of talking to each other. I think you’ll see that start to thaw very soon,” the US president said.
G7 stands with the people of Ukraine
On the war between Russia and Ukraine, the US president said the G7 reaffirmed “our shared and unwavering commitment to stand with the brave people of Ukraine as they defend against Russia’s war of aggression”. Joe Biden also shared that Ukrainian President Volodymyr Zelensky assured him that F-16 fighter jets will not be used to attack Russian territories.
Negotiations on the US debt ceiling
Discussing the ongoing US budget negotiations, President Biden stressed that a consensus was reached in meetings with congressional leaders, affirming that the most viable way forward is in the form of a bipartisan agreement. The congressional leaders also agreed that “default is not an option”.
Joe Biden said he will meet House Speaker Kevin McCarthy upon his return.
“Now is the time for the other side to leave their extreme positions, because much of what they have already proposed is frankly, frankly, unacceptable,” the US president said.
“It is time for the Republicans to accept that there is no bipartisan deal that can only be made on their partisan terms. They also need to move. All four congressional leaders agree with me that defaulting is not an option. And I expect each of these leaders to deliver on that commitment,” Biden stressed.
(With input from the agency)