At a Friday meeting in Ottawa, Canadian Prime Minister Justin Trudeau and US President Joe Biden formed a united front against authoritarian regimes. Biden traveled to the Canadian capital days after the leaders of China and Russia held a summit in Moscow.
In a joint press conference, Biden questioned the level of cooperation between China and Russia, noting that China has yet to supply weapons to Russia for use against Ukraine. The head of the White House noted that the United States has strengthened its alliances, notably through NATO and the G7, with South Korea and the countries of the Quadripartite Dialogue, which, in addition to the United States, include Australia, India and Japan.
“We have significantly expanded our alliances,” said the American leader. – Tell us how you see the situation in which China assumes important obligations towards Russia. What obligations can they assume?
Earlier, during a speech by Joe Biden in the Canadian Parliament, Prime Minister Justin Trudeau noted that Canada, which is already helping Kiev by providing artillery, ammunition and tanks, will remain committed to this goal.
“As you well know, Mr. President, Canada will continue to stand firmly with Ukraine, no matter the cost,” Trudeau pledged.
“Today, our destinies are linked and inseparable, not because of a constraining geography, but because it is our choice that we make each time. Two peoples, two countries which, in my opinion, do not only have one heart,” replied the American president.
During the press conference, Joe Biden also answered a question about the state of the American banking system, saying he was convinced that the problems in the sector were not getting worse after the recent failure of some banks, including the Silicon Valley Bank. .
“First of all, you know Wall Street hasn’t been crippled,” Biden said, commenting on the market uncertainty. “I think we did a very good job. People’s savings are safe.”
The US president noted that the federal government could take additional steps to protect citizens’ deposits “if we find that the instability is greater than it appears.”
“I think it will take time for things to calm down, but I don’t see anything explosive on the horizon,” he said. “But I understand that the situation is worrying. These medium banks should be able to survive and I think they can.
In turn, Prime Minister Trudeau announced that he and Biden had signed an agreement with IBM to expand semiconductor manufacturing capacity and reduce reliance on foreign manufacturers.
The US “Defense Production Act” will allocate $250 million for these purposes, Joe Biden has said.
“With increasing competition, including from an increasingly assertive China, it is undoubtedly important that we look to creating a North American market for everything from semiconductors to cells. solar panels,” said Prime Minister Trudeau.
President Biden also announced $50 million to incentivize US and Canadian companies to invest in the needs of the packaged chip industry.
