Biden's Approval Rating Plummets, Holds 'Supply Chain Meeting' with 14 Allied Countries (Summary)

U.S. President Joe Biden (Photo by Reuters)

[Asia Economy Reporter Yujin Cho] U.S. President Joe Biden called for international cooperation among 14 allied countries to respond to the collapse of global supply chains. Facing political and economic headwinds both domestically and internationally, including the withdrawal from Afghanistan and the U.S. fiscal crisis, which have led to a decline in approval ratings, President Biden is seeking to restore his leadership at the G20 summit.

On the 31st (local time), while visiting Rome, Italy to attend the G20 summit, President Biden presided over a summit meeting related to the recovery of global supply chains. Fourteen countries, including South Korea, Australia, India, and Singapore, participated alongside the European Union (EU), excluding the United States.

This meeting, which brought together 14 allied countries for the first time since Biden took office, is closely related to the current political and economic crises in the U.S. According to a poll released by NBC on the same day, Biden's approval rating was 42%, down 7 percentage points from the 49% recorded in August, and 71% responded that "America is heading in the wrong direction."

The supply chain issues, which emerged amid the withdrawal from Afghanistan and concerns over a national default, have increased inflationary pressures and become a significant burden for the Biden administration. CNN reported, "The shortage of goods caused by supply chain disruptions has become a political responsibility for President Biden and is contributing to inflation."

On this day, President Biden emphasized cooperation and unity with allied countries while continuing his stance to counter China. He stated, "Supply chains must be sustainable to ensure they are free from forced labor and child labor, support the dignity and voices of workers, and align with our climate goals," directly targeting China.

Although he did not mention China explicitly, his remark that "our supply chains must be diversified to avoid reliance on a single source" is widely interpreted as an intention to counter China.

At the meeting, President Biden announced that he would sign an executive order to simplify access to the Defense Production Act stockpiles to respond swiftly to product shortages caused by supply chain issues. Earlier, on the 13th, Biden held a meeting with private companies such as Samsung Electronics, Walmart, FedEx, as well as large truck drivers and West Coast port unions to address supply chain problems.

The executive order delegates authority to the Department of Defense to release materials from the defense stockpile, which will be decided through inter-agency consultations, according to major foreign media. According to the U.S. Congressional Research Service, the U.S. defense stockpile refers to a reserve of raw materials for 42 items that are strategic and critical in national emergencies, aimed at preventing foreign dependence and single-source supply.

Furthermore, President Biden stressed that international cooperation must come first to respond to the collapse of supply chains. He urged, "I call on countries to strengthen critical stockpiles for national security," adding, "But like many other challenges, this is not a problem that any one country can solve unilaterally; coordination is essential."

He emphasized the need to promote international cooperation on supply chain collapse and to strengthen and diversify the entire supply chain ecosystem in the long term, from raw materials to shipping.

He also promised additional funding to alleviate bottlenecks in Mexico and Central American countries. President Biden mentioned that this funding would help the U.S. and international partners significantly reduce formal procedures such as customs clearance to ease congestion at ports.

This content was produced with the assistance of AI translation services.