Biden to announce Australian submarine deal in San Diego

President Joe Biden, right, shakes hands with Australian Prime Minister Anthony Albanese during the Quadruple leaders’ summit at Guandi Palace in Tokyo, May 24, 2022. (AP Photo/Evan Vucci, File)
President Joe Biden, right, listens to British Prime Minister Rishi Sunak during a meeting on the sidelines of the G20 summit in Nusa Dua, Bali, Indonesia, November 16, 2022. (AP Photo/Alex Brandon, File) WASHINGTON (AP) — President Joe Biden will meet with two of America’s closest allies to announce that Australia will buy a U.S.-built nuclear-powered attack submarine to meet its Fleet modernization amid growing concerns about Chinese influence in the Indo-Pacific. Biden will travel to San Diego on Monday, where he will meet Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak for talks on the 18-month nuclear partnership, known simply as AUKUS. Announced in 2021, the partnership paves the way for Australia to acquire nuclear-powered submarines, which are stealthier and more capable than conventionally powered ones, to counter China’s military build-up. San Diego is the first stop on Biden’s three-day trip to California and Nevada. He’ll discuss gun violence prevention in California’s Monterey Park community, and his plan to lower prescription drug costs in Las Vegas. The trip will include a fundraising stop as Biden ramps up his political campaign ahead of announcing next month his expected plans for a 2024 re-election bid. Australia will buy up to five Virginia-class vessels as part of AUKUS’ preview of the arrangement with the unnamed plan, according to two people familiar with the matter. The next generation of submarines will be built in the UK and Australia with US technology and support. The original plan called for all submarines in Australia to be built in Adelaide, Australia. The US will also step up visits to Australian ports to make Australia more familiar with nuclear power technology ahead of having such submarines of its own. Biden will also hold bilateral talks with Albanese and Sunak, an opportunity to coordinate strategies to address a range of global challenges, Including Russia’s war in Ukraine and the global economy. The secretly brokered AUKUS deal, which included the Australian government’s cancellation of a $66 billion French contract to build a conventional submarine fleet, sparked a diplomatic row within the Western alliance that took months to fix. Meanwhile, China has argued that the AUKUS deal is a violation of the Nuclear Non-Proliferation Treaty, arguing that the transfer of nuclear weapons material from nuclear-weapon states to non-nuclear-weapon states is a “blatant” violation of the spirit of the treaty. Australian officials have pushed back on those criticisms, saying they are working to acquire nuclear-powered submarines, rather than nuclear-armed ones. Charles Edel, senior adviser and chair of Australia at the Center for Strategic and International Studies, said: “I think from Beijing’s perspective, they may have shut Australia out as an attractive middle-tier country. . It seems to have fully moved into the American camp.” Before leaving the White House, Biden will first speak out about his administration’s efforts to protect savers and guard against the broader economy following the collapse of the second and third largest U.S. banks. Extraordinary effort against difficulties. history of the nation. “The American people and American businesses can trust that their bank deposits will be there when they need them,” Biden said in a statement Sunday night. “I’m deeply committed to holding those responsible for this mess fully accountable and continuing to work to strengthen oversight and regulation of the big banks so we don’t end up in this situation again.” Where should you invest $1,000 right now?

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