WATCH: Biden says ‘there’s going to be a new world order’ and US must take lead

While speaking with a small group of business leaders from some of the largest U.S. energy, food, and manufacturing companies, President Joe Biden said there will be “a new world order” established.

The president added that the United States must be at the helm of it while discussing the war in Ukraine and the impact it is having on American consumerism during the Business Roundtable event held at the White House on Monday.

“You know, we are at an inflection point, I believe, in the world economy, not just the world economy, in the world — occurs every three or four generations,” Biden said. “Now is the time when things are shifting. There’s going to be a new world order out there. We’ve got to lead it, and we’ve got to unite the rest of the free world in doing it.”

The discussion also touched on the need to “mitigate price increases on American consumers” while addressing disruptions to energy and agricultural markets, the White House said in a statement.

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Biden touted economic growth and job creation seen over the past year. He praised the business leaders’ efforts to advance clean energy and build electric vehicles while thanking them for their help in imposing sanctions on Russia and providing supplies to the Ukrainians.

“Now [Russian President Vladimir] Putin’s back is against the wall,” Biden said. “He wasn’t anticipating the extent or the strength of our unity. And the more his back is against the wall, the greater the severity of the tactics he may employ.”

Biden warned that Putin is contemplating the use of chemical weapons in Ukraine.

The president also called upon the business leaders to take necessary technological measures to protect against cyberattacks.

“I would respectfully suggest it’s a patriotic obligation for you to invest as much as you can in making sure, and we will urge, we’ll help in any way, that you have built up your technological capacity to deal with cyberattacks,” Biden said. “First, to protect your own companies. Second, that provides critical — as providers of critical services that Americans rely on, from power to clean water. And finally, your role you can play in helping secure every American and every American’s privacy.”

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Biden is set to travel to Europe this week to discuss the war in Ukraine and the humanitarian crisis it has provoked.

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