Following its triumph with a harmonized minimum tax on multinationals, it is expected to emphasize its ‘special relationship’ with the UK
Great anticipation surrounds the arrival of the president of the United States, Joe Biden, this week to the annual meeting of leaders of the Group of Seven in London. European leaders await you, eager to learn how you will tackle international issues, including trade, international tax reform, climate change and Covid. The president arrives with a triumph in hand after the group’s endorsement of his plan to establish a global minimum tax on multinational companies of at least 15%, agreed on Saturday by the G7 finance ministers in meetings prior to the summit. .
Biden is expected to emphasize again the ‘special relationship’ with Britain, on which Prime Minister Boris Johnson bases his interest in reaching a bilateral trade deal. Such an agreement, which would provide London with little commercial benefit, would inevitably face the dispute over the trade border with Ireland before an American president with strong Irish roots.
Biden will also defend at the summit the continuation of the tough position with China, although expressed in a tone much less inflammatory than that of Trump, at a time of great dependence on the production chains in the Asian giant, whose aggressive penetration in the markets International threats threaten the hegemony of the United States, as well as that of the European powers.
Other topics on the table include defense and intelligence cooperation, the issue of cyberattacks from Russia and the international collective effort in the fight against climate change. But above all, Biden’s goal will be to restore political leadership at a time when America’s global prominence seems more threatened than ever after four years of vacuum created by Trump.
Joseph Biden, United States