U.S. Collaborates with Indo-Pacific Allies to Strengthen Economic Resilience
Originally Published 2 years ago — by CNBC
U.S. Trade Representative Katherine Tai has stated that the United States is collaborating closely with its trading partners in the Indo-Pacific region to enhance economic resilience. The Indo-Pacific Economic Framework (IPEF) initiative, launched by President Joe Biden, aims to announce several initiatives soon. Tai emphasized the need for cooperation to promote sustainability, resilience, and inclusivity, and highlighted the importance of not waiting for lengthy trade negotiations. The IPEF, which includes countries such as Australia, Japan, and South Korea, serves as the Biden administration's primary economic strategy in Asia and is seen as a way to counteract China's influence in the region. Further details about the IPEF initiatives will be revealed during the Asia-Pacific Economic Cooperation (APEC) summit next month.