U.S. reverses stance, backs giving poorer countries access to COVID vaccine

U.S. President Joe Biden gestures as he delivers remarks on the state of his American Rescue Plan from the State Dining Room at the White House in Washington, D.C., U.S., May 5, 2021.[Reuters]

President Joe Biden on Wednesday threw his support behind waiving intellectual property rights for COVID-19 vaccines, bowing to mounting pressure from Democratic lawmakers and more than 100 other countries, but angering pharmaceutical companies.

Biden voiced his support for a waiver - a sharp reversal of the previous U.S. position - in remarks to reporters, followed swiftly by a statement from his top trade negotiator, Katherine Tai, who backed negotiations at the World Trade Organization.