U.S. And 12 Countries Join New Indo-Pacific Trade Pact
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Summary
TOKYO (AP) — President Joe Biden announced 12 countries have joined a new trade pact that the White House says will help the United States work more closely with Asian economies on issues including supply chains, digital trade, clean energy and anticorruption efforts.The signatories joining the U.S. in the Indo-Pacific Economic Framework are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. This is going to take some time,” even as he rejected the idea a recession in the U.S. was inevitable.The comments came just before Biden’s planned launch of the Indo-Pacific Economic Framework, a new trade deal his administration designed to signal U.S. dedication to the contested economic sphere and to address the need for stability in commerce after disruptions caused by the pandemic and Russia’s invasion of Ukraine.Meeting with Kishida, Biden said the new framework would also increase U.S. cooperation with other nations in the region.The White House said the framework will help the United States and Asian economies work more closely on issues including supply chains, digital trade, clean energy, worker protections and anticorruption efforts.
As said here by AP