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Friday, June 14, 2024

Biden ‘reassesses’ Asia trip after G7 amid debt talks | World News


WASHINGTON (Reuters) – President Joe Biden may cut short his planned trip to Asia after this week’s Group of Seven summit in Japan, the White House said on Tuesday, as it negotiates with Republican leaders to stave off a U.S. debt default.

US President Joe Biden (AP)

The White House said Biden will leave for the summit in Hiroshima as planned on Wednesday but is reassessing plans for subsequent trips to Papua New Guinea and Australia.

Later on Tuesday, Biden will meet with Republican House Speaker Kevin McCarthy for talks on the high-stakes issue of raising the U.S. debt ceiling so the government doesn’t run out of money.

The Treasury Department has warned of “catastrophic” consequences if the U.S. runs out of cash to pay its bills, leaving it unable to pay federal workers and potentially triggering a spike in interest rates with knock-on effects for businesses and mortgage holders Reactions – and financial markets around the world.

White House national security spokesman John Kirby said Biden was certain to travel to Hiroshima for a meeting of the world’s richest democracy, but the rest of the trip was uncertain.

He insisted that Biden can multitask.

“He can travel abroad,” Kirby said, “and work with congressional leaders to do the right thing, raise the debt ceiling, avoid default, and preserve America’s credibility at home and abroad.”


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