US President Joe Biden's first day at the Group of 20 Summit began with the President achieving one of his core objectives for the global conference — an endorsement of a 15% global minimum tax from world leaders
US President Joe Biden's first day at the Group of 20 Summit began Saturday with the President achieving one of his core objectives for the global conference — an endorsement of a 15% global minimum tax from world leaders.
Italian Prime Minister Mario Draghi, the leader of this year's G20, said in remarks at the summit's start that the agreement was proof of the power of multilateralism. Aspects of Biden's recently unveiled spending framework would enact part of the global minimum tax scheme, though the fate of that measure remains uncertain as Democrats haggle over timing. Biden administration officials have downplayed the effect that Democratic infighting has on Biden's ability to rally foreign leaders.
The President arrived at the summit site Saturday morning, stepping from his car and greeting Draghi. Biden posed for a family photo with the G20 leaders, along with Italian medical workers who joined the heads of state on the platform. Still, the official said Biden would stop short of getting directly involved in OPEC decisions about ramping up supply:"We're certainly not going to get involved with the specifics of what happens within the cartel, but we have a voice and we intend to use it on an issue that's affecting the global economy."
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