Business leaders in Japan on Thursday welcomed the inauguration of U.S. President Joe Biden, expecting his administration to take a multilateral approach to trade policy while cooperating closely with other countries.
"We have high hopes for the new U.S. administration as it focuses on international coordination," Hiroaki Nakanishi, chairman of the Japan Business Federation, known as Keidanren, said in a statement.
The chief of the country's most powerful business lobby made clear "the power of the United States is necessary" to achieve a recovery in a global economy hit hard by the novel coronavirus pandemic, adding that it also allows for the global order to be "reconstructed."