The United States and 13 Asian nations on Sept. 9 concluded the first round of in-person meetings for the Indo–Pacific Economic Framework (IPEF) with a consensus on ministerial statements for four key pillars.
The U.S. Commerce Department said the 14 IPEF member nations, which represent over 40 percent of the global economy, have outlined four key pillars focusing on trade, supply chain resilience, clean energy, and fair economy.
The talks in Los Angeles included ministers from Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
U.S. Trade Representative Katherine Tai said the Biden administration launched the IPEF in May to develop “a modern economic arrangement” that will protect labor rights, combat climate change, and build resilient supply chains….