World leaders from the Group of Seven industrialized nations are set to commit at their summit to share at least 1 billion coronavirus shots with struggling countries around the world — half the doses coming from the U.S. and 100 million from the U.K.
Vaccine sharing commitments from President Joe Biden and British Prime Minister Boris Johnson set the stage for the G-7 leaders’ meeting in southwest England, where leaders will pivot Friday from opening greetings and a “family photo” directly into a session on “Building Back Better From COVID-19.”
“We’re going to help lead the world out of this pandemic working alongside our global partners,” Biden said, adding that the G-7 nations would join the U.S. in outlining their vaccine donation commitments at the three-day summit. The G-7 also includes Canada, France, Germany, Italy, and Japan.
The leaders hope to energize the global economy as well. On Friday they are set to formally embrace a global minimum tax of at least 15% on corporations, seconding an agreement reached a week ago at a meeting of their finance ministers. The minimum is meant to stop companies from using tax havens and other tools to avoid taxes.
The G-7 leaders have faced mounting pressure to outline their global vaccine-sharing plans, especially as inequities in supply around the world have become more pronounced. In the U.S., there is a large vaccine stockpile and the demand for shots has dropped precipitously in recent weeks.