Return to Transcripts main page
CNN Newsroom
Biden And Japanese PM Kishida Speak After Holding Talks; U.S. President To Unveil Economic Plan To Counter ChinA. Aired 1-2a ET
Aired May 23, 2022 - 01:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
(COMMERCIAL BREAK)
[01:00:23]
PAULA NEWTON, CNN ANCHOR: Hello, and a warm welcome to our viewers joining us in the United States and all around the world. I'm Paula Newton live at CNN Center in Atlanta just ahead right here on CNN Newsroom.
(BEGIN VIDEO CLIP)
JOE BIDEN, U.S. PRESIDENT: United States remains fully committed to Japanese defense. And we will face the challenges today and the future together.
(END VIDEO CLIP)
NEWTON: President Biden kicked off the second leg of his diplomatic tour in Asia as he looks to rally the region behind his administration's new policy for the Indo-Pacific. Plus, Ukraine's President announces a major deal with the leader of Poland. All this as its country's troops continue to repel a Russian assault. They're showing no signs of slowing
And badly needed baby formula finally arrives in the United States but for many frustrated families, the crisis is far from home.
And we do begin in Japan where U.S. President Joe Biden is pivoting from military assurance to economic alliances as he tackles the second leg of a high stakes diplomatic tour in Asia.
Now earlier, Mr. Biden called on the Japanese emperor and his palace before heading inside for a meeting. He later arrived for talks with Japanese Prime Minister Fumio Kishida. Now the meeting is expected to wrap any minute followed by remarks from both leaders and a press conference. We will bring you that when it happens and we're expecting it at any moment.
Now earlier, Mr. Biden said the U.S. remains fully committed to supporting Japan, listen.
(BEGIN VIDEO CLIP)
BIDEN: U.S.-Japanese alliance has long run the cornerstone of peace and prosperity in the Indo-Pacific. And the United States remains fully committed to Japanese -- Japan's defense, and we will face the challenges today and the future together.
(END VIDEO CLIP)
NEWTON: Now, while much of the focus in South Korea, of course, was on the rising threat from North Korea and Japan all eyes are on China's growing economic and military footprint. In the coming hours, Mr. Biden is expected to unveil his administration's new economic framework for the region.
The goal loosening ties between the U.S. and its Asia Pacific allies to counter China and Mr. Biden will bring a similar message to a meeting of the so called quad Alliance on Tuesday where he'll speak with leaders from Japan, India and Australia.
Now CNN is covering this on the ground with our Kevin Liptak and Blake Essig who are standing by in Tokyo for us with the latest developments as we await that press conference from President Biden and Prime Minister Kishida.
Kevin, you know, this is going to be quite a balancing act for the president. He obviously wants to emphasize the economic ties the growing economic ties, but security remains a problem. And it's interesting here because President Biden has said this before he leans into these personal relationships. He knows this prime minister well.
KEVIN LIPTAK, CNN WHITE HOUSE REPORTER: Yes, well, this he does know. And well, they've talked on the phone. But this is actually the first time that they've been able to meet face to face for any kind of substantive talks. And they'll go out for dinner later tonight in something of a tradition for Japanese Prime Ministers when they're hosting their American counterparts.
But you talked about this balance between a focus on the security issues and the economic issues, as just as President Biden is trying to focus on the U.S. military presence in this region to kind of define the United States's ability to counter China in the military space.
And he is also trying to focus on how the U.S. is going to counter China in the economic space. The U.S. has been out without a real plan to do that, since President Trump withdrew from the Trans Pacific Partnership back in 2017. And so what the President will unveil today is an economic framework that kind of as an organizing principle for partner nations to come on board and show their commitment to things like a resilient supply chains clean energy, anti-corruption efforts.
Now in theory, President Biden could rejoin the Trans Pacific Partnership, but in reality there's so little support for even in Washington and both -- among both Democrats and Republicans that White House officials sort of determined that they needed to try something else. And what this plan does is go beyond just trade initiatives and into areas that they feel will be critically important to the economy of the coming decades.
[01:05:03]
And so you'll hear things about climate change, and about digital trade. And so what the President do -- will do later today is unveil a, which countries are joining up. I know there are skeptics of this plan who say that there really isn't anything concrete yet, that would incentivize nations to join them, the White House has been clear that it won't include tariff reductions as part of that plan. And that's something that's traditionally been used to get countries on board with other trade agreements.
And so the real work for this Asia Pacific Economic framework will really start tomorrow when the leaders will sit down and hammer out what the specific commitments are that these nations will agree to as part of joining up about what the President will do later today is sort of lay out why he thinks it's important that the United States does this.
And the real reason is that the United States wants to compete with China in this region. This is a rapidly growing region economically, at the China has signed a number of trade agreements with other Asian countries in the last several years, the United States has been sort of lagging behind in that area, and this is President Biden's attempt to catch up.
NEWTON: Yes, although I'm sure the allies will point out the Trans Pacific Partnership is already there, the U.S. declined to join and reinventing the wheel may not be what they're on board for right now.
Kevin, we're going to turn out to Blake, who's also following this in terms of the Japanese perspective. And as Kevin was just pointing out, Blake, obviously, the economy is important, but so too, obviously, security guarantees.
You know, I've been fascinated to watch Japan's really transformative few months, especially since the invasion in Ukraine. I mean, the fact that they're even sending military aid there, it's not lethal aid, but they're sending it nonetheless. What are they looking for in this visit beyond the economics in the United States?
BLAKE ESSIG, CNN CORRESPONDENT: You know, Paula, operating within Japan's pacifist constitution to whether its defense, develop, counter attack capabilities, increase its defense budget, these are all things that are a primary focus here in Japan, given the fact that in this part of the world, it's seemingly more unstable by the day, you've got the rise of China's military and nuclear power in North Korea.
There's no question that friends and allies right now more important than ever to paint a picture of just how severe the security and environment is surrounding Japan. So far this year, North Korea has already conducted a 15 weapons test with the U.S. intelligence officials telling us that another ICBM, intercontinental ballistic missile test and the country's seventh ever nuclear test are imminent. Possibly Well, President Biden is still here in Japan.
And as far as China is concerned, Japanese and senior U.S. defense officials tell us that Chinese warships are now routinely patrolling Japanese territorial waters in the waters near Taiwan. It's a presence that has increased almost every year for more than two decades. And just in the past two years, the number of times Japan has been forced to scramble fighter jets to respond to Chinese aircraft threatening its airspace has nearly doubled.
Now I recently visited Japan's Yonaguni Island located just about 110 kilometers away from Taiwan. I was told by many of the people living there and making a living off its coast that China's constant presence and the threat of war right on their doorstep has them worried about their future.
But according to experts, this isn't a rivalry between the U.S. and China or China and Japan. The tension here exists based on how regional powers are going about expanding their influence. Take a listen.
(BEGIN VIDEO CLIP)
CLEO PASKAL, INDO-PACIFIC ANALYST, FOUNDATION FOR DEFENSE OF DEMOCRACIES: This is a rivalry between systems between an expansionist authoritarian, dictatorial, militaristic system as shown by the way Beijing operates as it expands into other countries and countries that value transparency, accountability, rule of law, everything that is embodied in the term Free and Open Indo-Pacific.
(END VIDEO CLIP)
ESSIG: Now that being said today, President Biden made it clear that the U.S. is fully committed to Japan's defense while Prime Minister Kishida is expected to communicate Japan's readiness to structurally reinforce its defense capabilities. His ruling Democratic Party has proposed that Japan possess counter attack capability against ballistic missile threats and has also called for an increase in that defense budget.
Of course, while China's Foreign Minister has recently made a bunch of comments, it means -- making it very clear that China is not pleased with what they perceive as negative moves made by the United States and Japan for creating a foul atmosphere even before any of these bilateral meetings or the quad summit set for tomorrow had taken place, Paula.
NEWTON: Yes, you know, so interesting, because we continue to await this press conference between President Biden and Prime Minister Kishida.
[01:10:00]
You know, I was reviewing comments when Joe Biden was Vice President on a visit to Asia, and some of the commentary regarding what was going on in the South China Sea was the same except for one thing, China's comments now have been much more strident and much more blunt.
In the face of this has it been kind of a natural thing that, you know, the Prime Minister has been able to bring the Japanese public along on this, I think that's what's most startling, is that there seems to be support for this new posture.
ESSIG: Again, Paula, having had the opportunity to go to the Yonaguni Island, Japan, southwestern islands, talk to a lot of people that are on what would be the frontlines of a war if China were to invade Taiwan. And as many experts and Japanese government officials expect that Japan would get pulled in to that war.
There's a lot of concern for what's happening, the influence the China is, as the Japanese officials and people here would say, it feels like they're forcing it on other countries in this region. You've got the security pact that was just signed with the Solomon Islands, that is a major concern for countries in this region where they see China furthering to expand their influence in the South Pacific.
The East and South China Sea is obviously a big concern, the territorial dispute with China, in the Shikoku (ph) islands, Japanese believe it's inherently there's China, where it's known as the OWU (ph) believe it's inherently theirs, and you have coastguard ships that are constantly in those waters entering those waters, almost on a daily basis, at this point, threatening the livelihoods of fishermen, on you know, either coming from places like Yonaguni that are trying to make a living.
And so to kind of answer your question, the reality is, is that people here are feeling China's influence the pressure that they're putting on both militarily and economically. And there's a lot of concern for what the future might look like, if Japan is unable to develop abilities to fight back to defend itself. And that is one of the big important things here is that Japan is focused on operating within its pacifist constitution, when they're talking about developing these counter strike capabilities, or increasing the defense budget.
This is all defense first. There's nothing about the idea of attacking another country, it's all defensive. And that's one of the key talking points for Japanese officials is they're trying to try to gain that public support to increase the defense budget to get those counter strike capabilities.
NEWTON: Yes, they're very careful to say that the counter strike capability as a watershed is it would be, in fact, that defensive posture again, for Japan and they want, of course, the U.S. support on that.
Kevin, if I can bring you in here, you know, it's going to be difficult for the President to get it across that he is in Asia right now really dealing with business at home, why and how he's expecting some of these new economic alliances, if you will, to try and take some of the shocks out of the supply chains. I would assume that right now, that would be a bit of a hard sell.
LIPTAK: Yes, I mean, I think what the President wants to do is focus on a lot of domestic issues while he's here in Asia. And you saw him do that when he was in South Korea. He stopped up with a Samsung plant. And he spoke with the chief executive of Hyundai, both of those companies have created -- have built factories in the United States. And that's something that the President has always been very focused in on his manufacturing jobs, labor jobs trying to boost up the American worker.
And so it's interesting to see him do that on this stop in Asia. He's still very much focused on what's going back in home.
But yes, the big question in this trade deal is how it will affect American workers. And that's something that the President hasn't necessarily defined beyond saying that greater participation in the global markets would be good for American businesses and American workers if they can sell their products overseas.
But of course, the counter is also true that if, you know, Asian countries, Southeast Asian countries, which are expected, some of them at least to join up into this economic framework, join them to this plan. There is an open question of whether goods can be produced cheaper in those countries, what kind of limitations on trade there will be, what kind of limitations on labor protection.
So all of these things are still being sorted out and what the President will have to do is balance a plan that is attractive enough for these countries to join us. On with a plan that is also not going to generate backlash among Republicans and Democrats in the United who may or may not have to ratify it.
It has not been made clear whether this is a trade agreement that will have to be passed by the Senate, or if this is something that the President can do on his own. So it will be interesting to see kind of how he balances that when he speaks later today.
[01:15:09]
I just want to note the other thing that the President is so focused on while he's here, and this will be a big issue, when he speaks tomorrow with the Prime Minister of India is the war in Ukraine. The President has spoken about it nearly every day on this trip.
So it will be interesting to see if he speaks about that in this press conference as well. It's something that's been at the top of the his mind, even his as he's been focusing on this region.
NEWTON: Yes. And, Kevin, as you're speaking, I believe we're about to see the President and the Prime Minister come in. Kevin, you made a good point there about those protectionist reflexes that are apparent, not just in the Republican Party, but in the Democratic Party as well. And that has changed a lot since Joe Biden was in Asia -- Prime Minister itself -- the Trans Pacific Partnership. You see the two leaders coming in there.
We will now bring you their statements. And of course, then their press conferences as they walk there to the podium. Again, both leaders really wanting to appeal to home audiences that they are doing what they can to try and alleviate any economic problems.
Let's listen in together.
UNIDENTIFIED MALE (through translator): The joint press conference by Prime Minister Kishida and President Joe Biden.
At the beginning, Prime Minister Kishida will deliver his remarks that will be followed by President Biden's remarks. Floor is yours, Prime Minister.
FUMIO KISHIDA, JAPANESE PRIME MINISTER (through translator): Thank you. We are immensely pleased with them Biden's first visit to Japan as the President of the United States.
United States is Japan's only ally if we share us universal values and democracy, human rights and we will have lot. It goes without saying that Japan-U.S. alliance is the linchpin of Japan's diplomatic and security policy.
The Japan-U.S. summit this time in this context was more important than ever, in respect of two points. One, we are currently faced with a crisis that shakes the foundation of international order, which is Russia's aggression against Ukraine.
To defend the resolutely (INAUDIBLE) international order based on the rule of law. Unity amongst allies and like-minded countries are required utmost now than any other.
Another thing is that the challenge of ensuring peace and prosperity or the Indo-Pacific region is the most important to strategic issue for the international community. And Japan and the United States has thought to take on a leadership role.
In this sense, we highly value the visit by President Biden to Japan, as he powerfully demonstrates United States enhanced engagement in this part of the region.
Also, together with President Biden, we will need to make a tomorrow's QUAD Summit a sure success. Based on this common awareness today, frank and useful discussion took place on matters of international community.
First, on Russia has eagerly just aggression unilateral attempt to change the status quo by force is totally unacceptable regardless of location. We affirm respond resolutely together with the international community including G7.
Also, confirmation was made to support fully the government and people of Ukraine. We also discussed the impact the Ukraine situation could give on the Indo-Pacific.
For China, we concurred to monitor closely recent activities of Chinese navy and joint military exercise of China and Russia and strongly oppose the attempt to change the status quo by force.
[01:20:19]
In East China Sea and South China Sea and the Japan the United States to closely cooperate on responding to China related issues, including human rights. Also we affirm that our two countries basic position on Taiwan remains to be unchanged, and underscored the importance of peace and stability to Taiwan Straits, which is an indispensable element for peace and prosperity of the international community and called for peaceful resolution across strait issue.
On DPRK, sharing the serious concern over nuclear and missile issues, including the launch of ICBM plus ballistic missiles, Japan in the United States and Japan, U.S.-ROK to cooperate even more closely was affirmed.
Toward immediate resolution of abduction issue, we iterated my request for full understanding and cooperation. President Biden extended his strong support.
After this, President Biden will be meeting with family members of the abductees. At a time when regional security environment is becoming more severe with President Biden, we affirmed the need to quickly be enforced to determine and response capability of Japan-U.S. alliances.
I stated my determination to fundamentally reinforced Japan's defense capabilities and secure substantial increase of its defense budget needed to effect it. President Biden strongly supported my determination.
We also concurred to expand and deepen security and defense cooperation between Japan and the United States. Further, President Biden iterated his commitment to Japan's defense and to make sure that extended deterrence will remain unwavering. We concur to keep in close touch, including on the ministerial level between our two countries.
In addition, to alleviate the impact on local communities of Okinawa and others, we also concur to steadfastly implemented US forces in Japan realignment, including construction in Hinako (ph) of replacement facilities Futenma air station. Because situation around the nuclear weapons are getting severe. We also continue to advance realistic and effective efforts on nuclear disarmament and non- proliferation and work toward the world without nuclear weapons.
Engagement in the Indo-Pacific by the United States and especially in the economic order is becoming ever more important. Japan welcomes the launch of the Indo-Pacific economic framework by President Biden and we'll participate and cooperate in this initiative.
Having said so, Japan hopes to see the United States return to the TPP from a strategic perspective. Also, in order to expand and deepen Japan-U.S. economic cooperation, we agreed to hold the ministerial level Japan-U.S. Economic Policy Consultative Committee, the so called economic 2 plus 2 coming July.
Further, we concurred our cooperation in economic security including the development of advanced semiconductors, and specific operation regarding space.
With Russia's aggression of Ukraine, severely damaging the situation over energy and food, we confirmed that we shall respond through coordination with the G7 and like-minded nations, as well as with international organizations. Such cooperation, Japan and the United States hopes to engage in initiatives to realize sustainable and inclusive social economic environment.
Regarding the new form of capitalism, which I am proposing, President Biden reconfirmed his strong support. By cooperating with President Biden who is promoting policies that focus on the middle class, we hope to create a major global trend of common economic policies among major countries.
We also exchanged views on global health, cancer research, climate change, protection and promotion of human rights and democracy and other global challenges. And agreed that our two countries should lead efforts of the international community in such areas.
Further, I express the necessity to reform and strengthen the United Nations, including the Security Council, which bears an important responsibility for the peace and security of the international community and gained President Biden's support.
The President stated that the United States will support Japan becoming a permanent member of a reformed Security Council. The Pacific Ocean does not separate Japan and the United States. Rather, it unites us. Those are the words delivered by President Kennedy to Prime Minister Ikeda which resonate with amplified weight in today's context.
I conveyed the importance of human resources development and people to people exchange towards a free and open Indo-Pacific, and President Biden concurred.
Japan will hold the presidency of the G7 next year, as the world faces unprecedented challenge caused by Russia's aggression of Ukraine, and the heightened risk of use of weapons of mass destruction at next year's G7 summit. I hope we can demonstrate the will of the G7 to resolutely reject aggression by force, threat by nuclear weapons and attempts to overturn the international order with a strength that will make a mark in history.
As the Prime Minister of Japan, the only country to have ever suffered atomic bombings, I believe there is no other venue as fitting as Hiroshima to demonstrate our commitment to peace. I hope that we can vow to the world that mankind will never cause the catastrophe brought about by nuclear weapons, that President Biden and other leaders of the G7 will together confirm in front of the peace, memorial, or solidarity, to defend peace, liberal order, and values.
I explained such plans to the President and we reaffirmed that our next year's G7 summit will be held in Hiroshima, and that we shall work together for its success.
Today, as an outcome of our meeting, we decided to issue a joint statement.
[01:29:40] KISHIDA (through translator): This statement is the joint strategy of
Japan and the United States as we keep in mind the current situation in Ukraine and the strategic importance of the Indo-Pacific and aim to uphold and develop a free and open international order.
Under the current situation of international affairs, which maybe described as the end of the post Cold War era, the truth value of the Japan-U.S. alliance is being tested more stringently than ever before in order to realize a free and open Indo-Pacific and to establish a free and open rules based international order Japan and the United States will engage in utmost efforts with irreversible result I look forward to furthering out partnership with President Biden.
Thank you, Joe.
Thank you very much.
Now to President Biden of the United States of America.
JOE BIDEN, PRESIDENT OF THE UNITED STATES: Thank you for that warm welcome you have given me here in Japan.
In recent years the alliance between Japan and United States has grown stronger, deeper and more capable as we work together to take on the challenges just as important as the opportunities of a rapidly changing world.
A great example of this we view Japan's lunar rover just coming out here over before -- after lunch. A symbol of how our space cooperation is taking off, looking toward the moon and to Mars.
I'm excited. I'm excited the work we'll do together on the Gateway Station around the moon and look forward to the first Japanese astronaut joining us on the mission to the lunar surface under the Artemis program.
And tomorrow, we're going to meet with our fellow Quad partners -- Australia and India for our fourth leader summit and our second time meeting together in person. The Quad is showing the world that cooperation among democracies can get big things done. And I'm grateful for your leadership.
Thank you for bringing us all together again to keep driving our progress as we advance a positive vision for the future of the Indo- Pacific region.
Today we made several commitments to further increase our bilateral cooperation and to work together to ensure a free and open Indo- Pacific that creates opportunity and prosperity for all the people in the region.
Through our comprehensive and reliance -- excuse -- resilient partnership which we announced last year we're in a situation now that we have invested our cooperation to spur innovation while delivering concrete progress for our people. Promoting a secure 5G network and improving Internet connectivity for our partners in the region. Improving critical infrastructure and strengthening supply chain resilience particularly on semi-conductors, batteries and critical minerals. Responding to COVID-19 and building a greater health security and a stronger health system also part of the future. And helping the world prepare for the next pandemic with our new CDC regional office right here in Japan. Cooperating on clean energy and decarbonization to tackle the climate crisis.
And after this, the United States and Japan together with 11 other nations will be launching the Indo-Pacific economic framework. This framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensure economic competitiveness in the 21st century by improving security and trust in the digital economy. Protecting workers, strengthening supply chain, and tackling corruption that robs nations of their ability to serve the citizens.
You know, the two largest democracies, the two largest economies in the democratic world, the United States and Japan are demonstrating the strength of democracies in action. Our cooperation has been particularly vital in organizing the global response to hold Putin accountable for his brutal war in Ukraine and his attack on the norms and principles of the foundation of international order.
Mr. Prime Minister, you have been outstanding. You've been an outstanding partner throughout this crisis. And our unity and the G7 to impose economic costs on Russia and support the people of Ukraine is sending a strong message about our willingness to defend a rule based international order.
I'm looking forward to continuing our discussions at the upcoming G7 summit in Germany and returning to Japan next year in 2023 for the G7 summit. And welcome the prime minister's announcements. The G7 summit will take place in his hometown of Hiroshima.
[01:34:51]
BIDEN: Today, we also discussed ways to continue to strengthen our security cooperation. The United States remains fully committed to Japan's defense. And we welcome -- we welcome the opportunity to work more closely together in an increasingly challenging security environment.
I applaud Prime Minister Kishida's determination to strengthen Japanese defense capabilities as well. A strong Japan and a strong U.S.-Japan alliance is a force for good in the region.
I support the peace and stability that's going to continue and we hope to increase across the Taiwan Strait. Promote freedom of navigation in the east and South China Sea and to deter the Democratic Peoples Republic of Korea.
So thank you again, Mr. Prime Minister for your partnership and your friendship. The alliance between our two countries is stronger than it's ever been. And it's as important as it has ever been.
I'm looking forward to exploring even more ways that our relationship will help move us toward a future that benefits all people. Thank you very much, Mr. President and I really truly appreciate your hospitality.
KISHIDA: Thank you very much. We will now accept questions from the press.
First Japanese journalist to be followed by U.S. journalist -- that will be the order of the questions. Those of you who have questions, please raise your hand. For our Japanese journalists I will appoint the journalist and U.S. journalists will be appointed by President Biden.
Please come to the closest microphone, identify yourself and your affiliation and please be brief and clear in your questions. Due to infection prevention please keep your facial masks when you deliver your question.
Now Japanese journalists -- are there any questions?
The front row, Yamamotosan.
YAMAMOTO, JOURNALIST: My name is Yamamoto. Prime Minister, President Biden, thank you very much. First to prime minister. With the Russian aggression of Ukraine, prime minister, you have been saying that security of Europe and security of Indo-Pacific are inseparable.
In today's meeting did you talk about response to China and how did you analyze the current status of the cross Strait provisions. Did the Japanese side or U.S. side explain how U.S. would respond in terms of contingency. What was the request from the U.S. side regarding Japanese response to a contingency in cross-Strait situation. Did you explain the defense budget increase or enemy base strike capability? What did you explain in that context Prime Minister?
KISHIDA: Well, thank you for your question. First of all, at today's summit meeting, as we got Taiwan Strait issue that you asked. We confirmed that basic stances of two countries on Taiwan remains to be unchanged and underscore the importance of peace and stability of Taiwan strait which is an indispensable element for security and prosperity of international community and called upon peaceful resolution of cross strait issues.
In the region, security related involvement is getting severe. You have to attempt to change a status quo by force like Russia's aggression against Ukraine this time, should never be tolerated in Indo-Pacific.
Above all, in East Asia, it's indispensable to further strengthen Japan-U.S. based on this shared awareness. I have said that -- fundamentally reinforce Japan's defense capability and stated my determination to fundamentally reinforce Japan's defense capability and secure substantial increase of its defense budget needed to resist and President Biden strongly supported by determination.
And also for myself, I have said that inclusive (INAUDIBLE) they strike capability. All the options will be there not to exclude any one of them and this is what I said to president. In Indo-Pacific region as well as to ensure the peace and prosperity of the international community.
[01:39:50]
KISHIDA: The basis is the corner stone of which Japan-U.S. Alliance and toward the further strengthening of the alliance we like to remain close coordination between Japan and the United States. Thank you.
UNIDENTIFIED FEMALE: Thank you very much.
UNIDENTIFIED MALE: Thank you. I have a question for the prime minister as well. I want to ask you about the economy. During your trip here to Asia, you promoted the investments by Samsung and Hyundai. But back home in the United States, Americans are dealing with record high inflation. The Fed has raised interest rates to try to address those issues. And there are also just enormously high gas prices.
Given the cross currents of the economy right now, the war in Ukraine, the China lockdowns that we've seen, should Americans be prepared for a recession? In your view, is a recession in the United States inevitable?
BIDEN: No.
UNIDENTIFIED MALE: Why not?
BIDEN: Look, you're talking about the significant progress we have made and making sure we don't have supply chain back ups about the 8,000 jobs that Hyundai is going to be bringing to Georgia. 3,000 jobs to Texas from Samsung. $17 billion investment. Toyota 1,700 jobs in North Carolina on battery technology. The situation where we're at we have created over 8 million new jobs where unemployment is down 3.6 percent. And so on and so forth as if they're a problem.
Imagine where we would be with Putin's tax and a war on Ukraine had we not made that enormous progress. Our GDP is going to grow faster than China for the first time in 40 years.
Does that mean we don't have problems? We do. We have problems that the rest of the world has but less consequential than the rest of the world has because of our internal growth and strength.
Here's the situation, when it comes to the gas prices, we're going through an incredible transition that is taking place. And God willing when it's over we'll be stronger and the world is stronger and less reliant on fossil fuel when this is over.
You see what Europe is doing relative to importation of Russian gas, you see -- anyway, I won't go through it all. And what I have been able to do to keep it from getting even worse -- I mean it's bad.
The price of gas at the pump is something that I told -- you heard me say before will be a matter of great discussion at my kitchen table when I was a kid growing up. It's affecting a lot of families. We have released over 257 million barrels of oil, I should say -- us and the rest of the world, we're convinced we can evolve (ph). It's helped but it's not enough.
We also find ourselves in a situation where we have food shortages because of Ukraine. There are literally millions of bushels of oil -- excuse me, of grain being held up in Ukraine. That would fundamentally impact possibly on the market in terms of bringing down food prices across the board.
So we're finding ourselves in a position where we're working very hard with American farmers and American agricultural products to provide more fertilizer and a whole range of things. This is going to be a haul. This is going to take some time.
But in the meantime, it seems to me the best thing I can do in addition to try to get the Middle Eastern countries including OPEC to raise the production of oil and move along that route. It's to see to it that we continue to grow our economy. Create jobs.
And the other thing is there's a second way -- I know you don't want to talking about -- people don't want to talk about it right now and I won't take up the time. But there's a second way to impact on inflation in term of people's daily cost.
If you are able to have child care at 17 percent -- 7 percent of income. If you are able to be in a position where we're able to provide for a tax cut for middle class people and working class people, et cetera. All those things would be we helpful.
And we have a 50-50 Senate. It means we have 50 presidents and I'm having a little trouble getting some of these things passed. But we're not going to give up. We're going to keep pushing.
UNIDENTIFIED MALE: Can I just follow you on one point. Secretary Yellen said recently that some of the tariffs on Chinese imports impose more harm on consumers and businesses and aren't very strategic. Do you share that view? And are you considering taking down some of those tariffs.
[01:44:51]
BIDEN: I'm talking with the Secretary when we get home. I'm considering it. We did not impose any of those tariffs. It was imposed by the last administration and are under consideration.
UNIDENTIFIED MALE: Thank you.
BIDEN: Thank you.
UNIDENTIFIED MALE: Foreign Minister Kishida, if I may, sir. We're going to be hearing more about this Indo-Pacific economic forum today. What message do you hope that it sends to China in the global market. And do you see this as a potential precursor to some type of trade pact given the political situation in the United States dealing with TPP.
KISHIDA: Well, thank you for your question. Well, United States and Indo-Pacific region is making economic dangerous to know (ph) and highly interested. And very posture shown by the United States is something we value in Japan.
Regarding the TPP, we are truly hoping for return of the United States. But even with the TPP, it's important that we proceed with discussions on IPEF and that attitude of the United States is wholeheartedly welcomed by the Japanese government and we will have to support the U.S. initiative.
China right now in the Indo-Pacific region is demonstrating significant economic presence. That's true. But look into the substance of their presence. Are they abiding by international rules?
What about development finance. Are they caring about sustainable initiatives? They have to do that because they are a major power. They have significant responsibility even in the economic field. They have to live up to that responsibility.
So Japan will cooperate with the United States and vis-a-vis China, persuade them to live up to their responsibilities to abide by international rules and we think that such attitude is very important. Thank you.
UNIDENTIFIED MALE: Once again, we receive a question from the Japanese reporter. Please raise your hand. Please raise your hand.
UNIDENTIFIED MALE: (INAUDIBLE) Newspaper. Prime Minister Kishida, President Biden -- nice to meet you. I have a question once again about IPEF. It is said that IPEF different from the frame work of TPP and some members are saying that it's less merit there, benefit. Would IPEF be effective frame work? Or in order to ensure the effectiveness of IPEF what is the role that Japan will be playing from Mr. Kishida.
And also, there was a expectations expressed for United States to come back to TPP. What was the response you received?
KISHIDA: First of all on IPEF, under the leadership of President Biden, shortly after the press conference, there will be official launch of IPEF. That's the plan. Such ceremony is slated to take place.
I said this before but this is a demonstration of the positive commitment of the United States to the Indo-Pacific. Japan welcomes such steps and we are in full support. And I'm going to join President Biden to participate in the inauguration ceremony.
And through IPEF, it's important to realize sustainable and inclusive economic growth in the Indo-Pacific.
In your question you asked about the concern of some countries who may think that there's very little merit or advantage to them. But we're going to discuss various matters with the United States but regional partners including the countries in order to jointly deliver concrete results.
[01:49:46]
KISHIDA: So this is venue to engage in positive discussion for cooperation. And through such initiative, we want to deliver concrete and specific results and that will serve as specific and actual advantage or merit for those countries.
You asked the question on TPP. From the strategic perspective of U.S. engagement in the international order of the Indo-Pacific we want the United States to be engaged from the economic perspective as well.
So our position remains unchanged. We think it's desirable for the United States to return to the TPP. So Japan hopes to see U.S. come back to the TPP and during the meeting, I directly communicated our hopes as such to the President.
I will not make any further detailed comments since it pertains to diplomatic exchanges.
Finally I invite questions from the U.S. press.
UNIDENTIFIED FEMALE: Thank you so much. I have a question for the Prime Minister but first to you, Mr. President.
We're already dealing with one global pandemic and you said yesterday that monkeypox is something that everyone should be concerned about. There are a few confirmed cases in the U.S. and some countries are opposing 21 day quarantines for people who are infected or even in some cases, just exposed. Should Americans expect something similar?
BIDEN: No. I don't think so. Look, we have had this monkeypox in larger numbers in the past, number one. Number two, we have vaccines (INAUDIBLE) to take care of it. Number three, there is, thus far, there doesn't seem to be a need for any kind of extra effort beyond what's going on.
And so, I just don't think it rises to the level of the kind of concern that existed with COVID-19 and the smallpox vaccine works for it. But I think people should be careful.
UNIDENTIFIED FEMALE: Do you think that the U.S. has enough smallpox vaccine stockpiled?
BIDEN: I think we do have enough to deal with the likelihood of the problem.
And Mr. Prime minister, can you tell us how Japan would respond if China were to invade or try to take over Taiwan? And how do you hope that the U.S. would respond if that were to happen.
And Mr. President, if you could tell us how the U.S. is prepared to respond. We would appreciate it.
KISHIDA: Thank you.
On Taiwan, in the senate meeting it was brought up in our discussions. The situation in the Taiwan Strait, the fundamental position of Japan and the United States was reaffirmed. There is no change. And we asserted the importance of peace and stability of the Taiwan Strait, which is fundamental to international order and peaceful resolution of the Strait should be pursued. We confirmed that position.
Now, in Asia. We are against any unilateral attempts to change (INAUDIBLE) by force in Asia. All the more so because of such position, regarding the situation in Ukraine, we think that unilateral attempt to change status quo is impermissible. That's why we are cooperating with the international cooperation and we decided to participate in the strong sanctions and we have provided humanitarian assistance.
And in Asia as well, peace and stability must be upheld and defended. And in order to defend peace and stability in Asia, we will drastically upgrade and strengthen our defense capability. And the United States is the only ally for Japan. And Japan-U.S. alliance is thus very, very important. We have to strengthen this alliance to defend peace and stability of the region. That's what I believe.
And in so doing, extend the deterrence and response by the United States must be reliable. We have full confidence in response by the United States including extended deterrents and strengthening of Japan-U.S. alliance is very important.
[01:54:57]
KISHIDA: And we truly hope that as many members of the general public will have even deeper confidence on this alliance, so that that in turn will lead to regional peace and stability and I look forward to cooperating with President Biden to that end.
BIDEN: Our policies towards Taiwan has not changed at all. We remain committed to supporting the peace and stability across the Taiwan Strait and that there is no unilateral change in the status quo.
I would add, that one of the reasons why it's so important that they pay a dear price for his barbarism in Ukraine, the idea that on your station today, and every other station in America are showing bombings of schools -- no military purpose. Schools, hospitals, (INAUDIBLE) all the things -- museums, bombing up all the museums. I believe what Putin's attempting to do is eliminate the identity of Ukraine. The identity. He can't occupy it, but he can try to destroy its identity.
And the reason I bother to mention that is, he has to pay. Russia has to pay a long-term price for that in terms of the sanctions that have been imposed. The reason I bother to say this, not just about Ukraine.
If in fact after all he's done, there's a rapprochement met between China -- excuse me, between the Ukrainians and Russia, and these sanctions are not continued to be sustained in many ways, then what signal does that send to China one -- for China about the cost of attempting -- attempting to take Taiwan by force.
They're already flirting with danger right now, by flying so close and all the maneuvers that are undertaken. But the United States is committed. We've made a commitment. We support the one-China policy. All that we have done in the past. But that does not mean -- it does not meant that China has the ability, excuse me, has the jurisdiction to run and use force to take over Taiwan. So we stand firmly with Japan and with other nations not to let that happen. My expectation is that it will not happen. It will not be attempted. My expectation is a lot of it depends upon just how strong in the world makes it clear that that kind of action is going to result in long-term disapprobation by the rest of the community.
UNIDENTIFIED FEMALE: Very quickly, you didn't want to get involved in the Ukraine conflict militarily for obvious reasons. Are you willing to get involved militarily to defend Taiwan if it comes to that?
BIDEN: Yes.
UNIDENTIFIED FEMALE: You are.
BIDEN: That's the commitment we made. That's a commitment we made. We are not -- look, here's the situation. We agree with the one China policy. We signed on to it. And all of the attendant agreements made from there. But the idea that it can be taken by force, just taken by force is just not appropriate.
It will dislocate the entire region. And then another action similar to what happened in Ukraine. And so it's a burden that is even stronger.
Thank you very much. Appreciate it.
UNIDENTIFIED FEMALE: Thank you, Mr. President.
KISHIDA: Thank you very much.
(END OF LIVE EVENT):
PAULA NEWTON, CNN ANCHOR: And you are watching U.S. President Joe Biden and the prime minister of Japan wrapping their press conference there. You see them shaking hands there.
President Biden really making what would be a strong message to China. And saying that look, while the conflict in Ukraine was going on. That if Vladimir Putin does not pay a price for intervening in Ukraine and that means the fact that these sanctions would be in place for quite a long time. He says even perhaps past rapprochement, as he calls it with Ukraine and Russia.
And his question was what message does that send to China? And he's saying that while the United States and Japan stand behind the one- China policy, that that does not mean that China can take Taiwan by force.
They were resolute, definitely as well in terms of going to their security priorities. But also trying to bring up those economic alliances and strengthening them. And trying to convince audiences both at home in Japan and here in the United States, that they are doing what they can to make sure that they can mitigate some of those really incredible repercussions from inflation and those supply-chain shocks, which we don't have to remind anyone about as we all suffer through them. Ok, stay with us. We will have much more news after a break when my colleague Rosemary Church will take over. Appreciate it.
[01:59:56]
(COMMERCIAL BREAK)
