President Biden launched the Indo-Pacific Economic Framework for Prosperity (IPEF) during a visit to Japan, marking the start of his signature economic initiative. The U.S. will be joined by 12 Asian countries for upcoming negotiations, including Australia, Brunei Darussalam, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
In a White House statement, the IPEF says it will build high-standard, inclusive, free, and fair trade commitments and develop new and creative approaches in trade and technology policy that advance a broad set of objectives that fuels economic activity and investment, promotes sustainable and inclusive economic growth, and benefits workers and consumers. Our efforts include, but are not limited to, cooperation in the digital economy.
AAEI submitted two sets of comments on the IPEF last fall, one for the Office of the U.S. Trade Representative (USTR) and one for the Department of Commerce (DOC). In them, AAEI calls for addressing “fair and resilient” supply chains and building Indo-Pacific competitiveness to accelerate access for U.S. goods.