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Biden and other world leaders gather at NATO summit

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President Biden has arrived at NATO for his first visit. Yahoo Finance’s Jessica Smith shares the details.

Video Transcript

AKIKO FUJITA: Overseas, President Biden meeting with NATO allies on the back of that three-day G7 summit meeting over the weekend. His first as president, we should point out. Leaders of G7 countries reached an agreement on COVID-19 vaccine donations, climate change, and economic stimulus, but there were some disagreements, especially on how to deal with China. Let's bring in our very own Jessica Smith, who is tracking all of the developments for us out of Washington DC. Jess?

JESSICA SMITH: Yeah, Akiko, China is expected to be a focus today at the NATO Summit. The communique, according to the New York Times, is expected to explicitly mention China's military ambitions for the first time. President Biden is pushing the Allies to take a more coordinated approach to really increase their efforts in countering China and Russia's influence.

The world leaders are expected as well to endorse a new cyber policy. The idea is if one of the member countries is hit with a major cyber attack, they could get technical and intelligence support from the other allies. We're expecting the NATO leaders to also endorse a climate measure. These are some of the same things that we did see at the G7 over the weekend.

The leaders of those countries agreed to try and cut their emissions in half by 2030, but they were not able to agree on an end date for coal. They also agreed to provide roughly 1 billion doses of the COVID-19 vaccine over the next year. They backed that global minimum tax that we've been talking about over the past week or so.

And they called out China's human rights abuses. They also set a standard for forced labor, calling out forced labor, though they didn't mention China explicitly in that portion of their joint statement. But the White House says those measures are aimed at China.

They also endorsed a new initiative to counter China's Belt and Road. President Biden had been pushing the G7 leaders to take really a more tough approach, a tougher approach, on China, but he said ultimately he was satisfied with where things landed. He said, overall, the meeting was productive and collaborative. Let's watch.

JOE BIDEN: Everyone at the table understood and understands both the seriousness and the challenges that we are up against and the responsibility of our proud democracies to step up and deliver for the rest of the world. That's what the G7 is all about, and rallying the world's democracies to meet the challenges that the world faces, and deliver for our people and for people, quite frankly, everywhere.

JESSICA SMITH: We do expect to hear from President Biden again today later this afternoon in a news conference. Tomorrow, he will have a few more meetings with world leaders, and then he will head to Switzerland for that highly anticipated meeting with Russian President Vladimir Putin. Akiko?

AKIKO FUJITA: All eyes certainly on that one. Jessica Smith, thanks so much for that.

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