Biden says 13 countries will join Indo-Pacific Economic

President Joe Biden stated in Tokyo on Monday that 13 countries have joined a new US-led Asia-Pacific trade effort aimed at countering China’s aggressive development.

“The United States and Japan, together with 11 other nations, will be launching the Indo-Pacific Economic Framework for Prosperity, or IPEF,” Biden stated during a press conference alongside Japanese Prime Minister Fumio Kishida.

“This framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensuring economic competitiveness in the 21st century,” he added.

Later Monday, Biden was scheduled to make a formal announcement about the framework.

He didn’t disclose how many countries had already signed up for IPEF, which the White House describes as a framework for forming a close-knit club of trade nations.

Unlike previous trade blocs, IPEF members have no plans to negotiate tariffs and market access, a technique that has proven more distasteful to US voters concerned about harming domestic industry.

Rather, the concept envisions partners integrating through agreed-upon standards in four key areas: the digital economy, supply chains, renewable energy infrastructure, and anti-corruption measures.

Since assuming office in 2021, Biden has worked to quickly repair vital military and commercial partnerships that were undermined by his predecessor, Donald Trump.

IPEF aims to provide an alternative to China’s rising commercial footprint in the Asia-Pacific region.

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