Biden to focus on climate and COVID in meeting with Canada’s Trudeau

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Biden to focus on climate and COVID in meeting with Canada’s Trudeau


President Joe Biden is set to unveil a new “roadmap” with Canada during his meeting Tuesday with Prime Minister Justin Trudeau, as the two allies plan to cooperate on combatting the coronavirus pandemic and climate change.

The meeting, scheduled for 4 p.m. Eastern, is Biden’s first bilateral with a foreign leader as president. The two leaders are expected to make remarks at the opening of the meeting, which will be held virtually due to the pandemic.

The White House called the roadmap Biden will unveil “a blueprint for our whole-of-government relationship, based on our shared values and commitment to work in partnership on areas of mutual concern, such as the recovery from COVID-19 and global health security, efforts to combat climate change and shared priorities in defense and security.”

There’s a possibility Trudeau could raise again with Biden the idea of allowing Canada to buy vaccines from a Pfizer
PFE
plant in Michigan — an issue the Canadian leader brought up last month, according to the Associated Press. Biden for now remains focused on first inoculating the U.S. population, the AP cited a senior administration official as saying.

Trudeau may also bring up Biden’s “Buy American” executive order, which is designed to encourage the U.S. government to spend more procurement dollars to boost American factories and hiring. As the AP writes, the issue is crucial to Canada since the U.S. accounts for around 75% of its exports.

Now see: All of President Biden’s key executive orders — in one chart

The two leaders are expected to announce a strengthened commitment to the Paris climate agreement and a concerted effort towards reaching net-zero carbon emissions by 2050.  

Also read: ‘Pittsburgh can’t win the day without Paris, or vice versa’ — these mayors are allies not foes on climate change

Biden’s decision to revoke approval for the Canada-to-U.S. Keystone oil pipeline rankled Canadian leaders. But Biden is unlikely to change his mind on the issue, which was among his first executive orders.

Read: Here’s what Biden’s early actions mean for oil’s outlook

U.S. stocks
SPX
were lower Tuesday, with tech shares leading the way down, as investors monitored a sharp rise in bond yields and testimony by Federal Reserve Chairman Jerome Powell, who warned that the U.S. economic recovery remains uneven and far from complete.

See: Market Snapshot



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