Biden ends Asia trip early for debt ceiling talks.

President Biden Cuts Asia Trip Short to Negotiate Debt Ceiling

With the United States’ first-ever default looming, President Joe Biden has decided to cut his Asia trip short and return to the US to negotiate the debt ceiling. According to a source familiar with the matter, “President Biden has decided to return to the United States on Sunday, immediately following the completion of the Group of Seven summit, to ensure Congress takes action by the deadline to avert default.”

The Stakes are High

The country could default as soon as June 1, which would be catastrophic for the US economy. Treasury Secretary Janet Yellen has warned that the consequences of a default would be dire.

Unwilling to Negotiate

So far, Biden and congressional Democrats have been unwilling to negotiate raising the debt ceiling with House Speaker Kevin McCarthy (R., Calif.), who is asking that raising the ceiling come with federal spending cuts.

What’s at Stake?

• The US economy
• The livelihoods of millions of Americans
• The country’s reputation on the global stage

Biden had plans to meet with leaders in Australia and Papua New Guinea to discuss China’s threat and climate initiatives. The White House had emphasized how Biden’s attendance at a summit of the Group of Seven major industrial countries in Japan this week would shore up optimism that the US is able to resolve its differences at home. The president had next planned to travel to Australia for a “Quad” meeting on May 24, with China’s provocative actions in the region expected to be front and center in meetings with the leaders of Australia, India, and Japan. However, Biden will now return after the G7 summit on Sunday and skip a visit to Papua New Guinea, where he had planned to stop on his way to Sydney to discuss regional security and economic and climate support.

The stakes are high, and the world is watching as the US navigates this critical moment in its history.