(Bloomberg) — President Joe Biden is hosting the Summit of the Americas in Los Angeles, a gathering intended to deepen ties between the US and Western Hemisphere countries that drew criticism from Beijing, which seeks to make its own inroads in the region.
The US has announced a series of new agreements with countries in the region on economic, health and climate efforts, but they come with little fresh investment by Washington. The impact of a new migration accord to be unveiled Friday is particularly suspect, as Mexican President Andres Manuel Lopez Obrador and the leaders of three Central American countries that produce much of the irregular migration to the US all declined invitations to the summit.
Biden will deliver brief remarks at the summit on Thursday before meetings with Caribbean leaders, Brazilian President Jair Bolsonaro and Canada’s prime minister, Justin Trudeau.
Trudeau will hold a meeting with California Governor Gavin Newsom, a Democrat, Sundar Pichai, the CEO of Alphabet Inc., Google’s parent company, and Argentina’s President Alberto Fernandez.
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(All times are Los Angeles, Pacific Time.)
Biden Says Jan. 6 Hearing to Show Attack Detail (12:34 p.m.)
Biden said that Thursday’s televised hearing on the Jan. 6 attack would show many Americans “detail” on the insurrection for the first time.
“It was a clear, flagrant violation of the Constitution. I think these guys and women broke the law, tried to turn around the result of an election,” Biden said before a meeting with Trudeau. “And there’s a lot of questions — who’s responsible, who’s involved, I’m not going to make a judgment on that.”
One objective of the House’s Jan. 6 committee is to connect former President Donald Trump to a plan to disrupt Congress’s certification of Biden’s Electoral College victory, and show that Trump and his inner circle may have committed crimes in seeking to undo the election. Committee members have promised surprises in the prime-time hearing.
“A lot of Americans are going to be seeing for the first time some of the detail that occurred,” Biden said.
Biden Calls for ‘Nail’ in Conservative Tax Policy (11:50 a.m.)
Biden said in remarks to the summit Thursday that the region’s nations should abandon “trickle-down economics,” the concept pushed by conservative politicians that tax cuts for the wealthy yield economic benefits for lower-income people.
“We have everything we need right here in the Western Hemisphere not only to point ourselves toward a future that is more prosperous, secure and democratic, but the ability to achieve it as well,” he said. “But to achieve this, we’ve got to update our recipe, in my view, for economic growth. It’s time to put a nail in the coffin, in my view, of trickle-down economics. It doesn’t work.”
The approach, Biden said, has caused “greater inequity, slower growth, less competition and less innovation.”
Biden also called for the region to build “more resilient” supply chains by relocating production of goods to the hemisphere rather than farther overseas, and said his administration is ready to put more capital into the Inter-American Development Bank to encourage private-sector investment in Latin America.
Bolsonaro Prepares for Biden in Most Awaited Summit Meeting (11:07 a.m.)
Bolsonaro arrived in Los Angeles on Thursday and was greeted by seven loud female supporters grouped under the “Powerful Grandmothers” name. The Brazilian immigrants traveled from Las Vegas, where they are based, to shout their admiration for “the best president in the history of Brazil.”
The mercurial leader will need this kind of support later on Thursday when he meets President Joe Biden in what’s expected to be one of the highlights of the summit. The two heads of state couldn’t be more different, with Bolsonaro being one of the staunchest admirers of Trump.
But as Simone Iglesias and Josh Wingrove report in this article, they can find common ground in topics including initiatives to support the Amazon rainforest and the defense of democracy around Latin America.
China Accuses ‘Selfish’ US of Trying to Fence Off Latin American (9:41 a.m.)
The Beijing government criticized US plans to increase investment in the region, saying Latin American countries should “independently” choose development partners.
China-Latin America trade topped $550 billion in 2021, according to a Chinese ministry of foreign affairs spokesman, Zhao Lijian. The US government is wary of China’s inroads in the region, as Beijing attempts to expand its influence beyond the Indo-Pacific, and has warned in the past that Chinese investment is often accompanied by demands for cooperation with its government’s foreign policy aims.
“For its selfish gains, the US has tried to exclude and contain other countries’ cooperation in this region,” Zhao said. “This constitutes great disrespect for Latin American countries. It is doomed to fail and is not well received.”