This is a big week for Joe Biden. He fully takes the world stage at the G7 in London, and will also meet separately with several allied leaders, including Prime Minister Scott Morrison.
BRUCE WOLPE EXPLAINS WHAT’S ON BIDEN’S AGENDA IN EUROPE.
He will then go on to a NATO summit and a crucial meeting with Russia’s Vladimir Putin.
President Biden’s presence there will embody his core commitment that “America is Back” as a leader of the Western nations.
He will also report to them that “America is on the move again” – his signature message to Congress and the American people in April.
Biden is sitting on some pretty notable achievements, with the pandemic coming under control, and the economy roaring back with very strong growth and employment gains.
America’s renewed commitment
Biden’s first trip overseas is, as he wrote on Sunday, “about realizing America’s renewed commitment to our allies and partners, and demonstrating the capacity of democracies to both meet the challenges and deter the threats of this new age.
“This is a defining question of our time: Can democracies come together to deliver real results for our people in a rapidly changing world? … I believe the answer is yes. And this week in Europe, we have the chance to prove it,” said Biden.
‘BIDEN HAS ALWAYS SAID THAT WE WILL HAVE STRONGER LEVERAGE ON CHINA… WITH ALL THE ALLIES TOGETHER, NOT JUST A TRADE WAR,” WOLPE SAYS ON TICKER NEWS.
Biden is also nearing a decisive moment politically at home on the second pillar of his program to repair America.
Bipartisan talks on his $2 trillion infrastructure proposal are stuck, with a very wide gap in money to be spent and how to pay for it.
Republicans are several hundred billion dollars short of a true compromise on scale, yet they are utterly opposed to rolling back some of the Trump tax cuts.
WOLPE ON WHY BIDEN NEEDS THE $2 TRILLION INFRASTRUCTURE PROPOSAL TO BE SUCCESSFUL FOR HIS PRESIDENCY.
“Can he do it with republicans, or will he have to go alone? If he goes alone… can he win?”
Biden will have to decide soon whether a deal is possible. Alternatively, he’ll have to go forward just with his Democrats and their perilously narrow margin in the House (4 votes).
Combined with the president’s reach in the Senate (where in a 50-50 Senate any Democratic defection means failure), this shows for some tough politics.
However, it’s nothing that Biden has not faced in his five decades of experience.
As Biden engages on his agenda, the ex-president wallows in his grievances
To be certain, Donald Trump is the leader of the Republican Party, with powerful support among the rank-and-file.
Trump defines the agenda and controls the party’s narrative (which is whatever Trump says it is at any moment).
He also makes or breaks Republican candidates for office. The former president is intent on using his candidates to take back the House and Senate next year, setting the stage for a return to the White House in 2025.
At his rally in North Carolina over the weekend, Trump attacked Biden’s “radical Socialist agenda”.
China is public enemy #1, and he wants China to pay $10 trillion is “reparations” for the virus Trump insists they inflicted on the world.
But the heart of Trump’s message is his litany of anger and revenge over an election that he knows was stolen. Over investigations designed to persecute him. Over immigrants and criminals and social activists that are destroying the country.
Biden and the future. Trump and the past. Which road does America want to travel?
Bruce Wolpe is a Ticker News US political contributor. He’s a Senior Fellow at the US Studies Centre and has worked with Democrats in Congress during President Barack Obama's first term, and on the staff of Prime Minister Julia Gillard. He has also served as the former PM's chief of staff.
Investor sentiment is improving as fresh data out of the US and Australia shifts expectations for central bank action.
Stronger-than-expected labour market figures in Australia have raised questions about whether the Reserve Bank will move ahead with a rate cut next week. While the RBA has signalled it is watching data closely, the resilience in employment may force a delay.
Meanwhile, in the US, softer inflation data has lifted hopes that the Federal Reserve could cut rates later this year. That news helped spark a sharp turnaround in US equities, with the so-called “sell America” trade now unwinding as buyers return to Wall Street.
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Ticker News anchor Veronica Dudo speaks with Erbil “Bill” Gunasti, former Turkish PM Press Officer and Republican strategist, to break down the implications for national security, global diplomacy, and the path to peace in Ukraine.
Trump’s AI deals in the Middle East spark division over national security risks and concerns over China ties.
In Short:
Trump’s AI deals with Saudi Arabia and the UAE are causing internal conflicts in his administration over US national security. Officials are concerned that American technology supplied to the Gulf could ultimately benefit China, leading to calls for enhanced legal protections.
President Donald Trump’s recent AI deals in Saudi Arabia and the UAE are causing internal conflicts within his administration.
Concerns are rising among officials, particularly China hawks, about the implications for US national security and economic interests.
Agreements include shipments of vast quantities of semiconductors from Nvidia and AMD to the Gulf states, prompting fears that American technology could ultimately benefit China, given the region’s ties with Beijing.
While the accords include clauses to limit Chinese access to the chips, some officials argue that further legal protections are necessary.
Critics, including Vice President JD Vance, have suggested that maintaining US dominance in AI is crucial, and shipping chips abroad might undermine that goal.
Supporters of the deals, including AI Adviser David Sacks, argue the need for American technology in the Gulf to deter reliance on Chinese alternatives.
Despite this, internal discussions are underway to potentially slow down or reassess the agreements due to ongoing national security concerns.
Conversations have also included proposals for a significant chip manufacturing facility in the UAE, which many officials deem risky due to China’s influence.
Additionally, worries persist about G42, an AI firm in Abu Dhabi, which has historical ties to Huawei.
The agreements with Gulf countries promise to enhance their technological capabilities while necessitating careful oversight to address US security priorities.
