wwwvideopoker| U.S. retail giant Target cuts prices, Biden administration's priority remains fighting inflation

Us President Joe Biden recently saidWwwvideopokerHis appeal prompted the business community to respond to the call for retail chains to lower prices for consumers.

After US retail giant Target announced a reduction in the price of food and daily necessities this week, US President Joe Biden said his appeal had been answered by the business community and hoped that voters would approve him.

Earlier on Monday, Target announced that it would reduce the prices of about 5000 commodities, including bread, fruits, vegetables, milk and meat. The company said price cuts for 1500 products had already taken effect and would continue to cut prices for thousands more in the summer.

Less than six months before the US election, a number of national polls show voters criticizing Mr Biden's performance in dealing with inflation. But Biden said inflation remained high because big companies kept prices artificially high while production costs fell.

"the president's top economic priority is to fight inflation and reduce the cost of living for the American people." White House spokesman Andrew Bates said in a memo this week.

Biden's remarks caused dissatisfaction in the business community.

Over the past three years, Biden has been challenging the interests of big businesses and billionaires, according to White House officials and the campaign. His economic agenda has benefited from union support, aggressive antitrust regulation, a crackdown on so-called "garbage charges" and other surcharges, advocating higher taxes on the rich and blaming corporate greed for tightening consumers' wallets.

"many big companies make record profits, but still overcharge the American people. In some cases, prices remain high despite falling inflation. The president is taking unprecedented action to provide relief to middle-class families. " Bates said in the above-mentioned memo.

The memo accused large pharmaceutical companies, grocery chains, credit card companies, airlines and student debt companies of "driving up prices".

However, the comments upset some in the business community.

"I think there are some cases where the remarks about the industry and the company are a bit excessive." "that doesn't sound good," Neil Bradley, chief policy expert at the American Chamber of Commerce, said earlier this month.

In response, the business community has repeatedly sued the Biden government for regulatory actions. The American Chamber of Commerce, for example, filed a lawsuit against the Federal Trade Commission in April to ban the cancellation of non-compete agreements. In a separate lawsuit, the banking industry won a separate lawsuit in which the judge suspended the enforcement of new White House restrictions on late credit card fees.

Secretly attract the business community to cooperate?

However, US executives who have attended White House meetings say the relationship between the White House and the business community is much more harmonious in private.

Earlier this month, Biden and members of his cabinet hosted eight business executives at the White House and held a private round table to discuss infrastructure investment, geography and the performance of the U.S. economy relative to the rest of the world, according to people present at the meeting.

Those present at the meeting included United Airlines CEO Scott Kirby, Citigroup CEO Jane Fraser and Marriott International CEO Anthony Capuano. Over the past few years, these companies have been targeted by White House regulators. Biden then visited the swing state of Wisconsin and announced that Microsoft would invest $3.3 billion in an artificial intelligence data center.

A senior White House administration official said the White House worked out the "Entrepreneur Round Table Forum Plan" at a dinner in early February. At that time, White House Chief of staff Zinz, Treasury Secretary Yellen, Commerce Secretary Raimundo, National Economic Council Director Brainard and other cabinet members decided that each of them would hold a phone call or meeting with 10 chief executives to discuss how private companies could help implement investment projects from bills such as the inflation reduction Act and the Chip Act.

Since the dinner in February, the White House team has held meetings with more than 100 chief executives on topics including artificial intelligence, labour training and pricing practices, according to the official.

Senior White House officials say the president plans to work with companies rather than simply attacking them.

"two things may be true at the same time." "they have major fundamental differences in policy, but they are open to dialogue and willing to cooperate," said Bradley, chief policy expert at the American Chamber of Commerce. "