As prepared for delivery:
Good morning everyone.
Thank you, Secretary Raimondo. You are a fantastic partner. I want to thank your staff for their close collaboration. I also want thank my team at USTR for their tireless work to help make this Ministerial possible.
But most importantly, I have to thank our 13 IPEF partners for traveling to Los Angeles to attend our first in-person Indo-Pacific Economic Framework Ministerial. It was energizing to be in the same room with all of our partners, and that energy will carry us through our discussions across the Framework’s ambitious components in the days ahead.
I have said it before, and it’s worth repeating – for decades, trade was often reduced to a zero-sum game that left many behind. But President Biden believes in putting workers at the center of our economic agenda, and that trade should be a platform that delivers real opportunities for real people.
The IPEF embodies how we intend to move forward to bring equitable growth to our region.
We launched this Framework in May to develop a modern economic arrangement – an arrangement that delivers broad-based economic connectivity and benefits our workers, combats climate change, builds resilient supply chains and levels the playing field for our companies.
And as I said yesterday, this meeting was a chance to deepen our partnerships and fill in the details about how we will work collectively to address the challenges and opportunities that will define the 21st century.
I’m happy to say that after several days of intensive discussions, we have made real progress toward that goal. And the ministerial statements demonstrate our innovation and ambition.
Our intention now is to move towards negotiations with our partners on each pillar, with the first round of discussions taking place after this ministerial.
Specifically, we intend to develop initiatives that promote sustainable and inclusive growth by adopting and maintaining, and enforcing laws based on internationally-recognized labor rights.
We will identify ways to protect the environment, respond to our common sustainability challenges, including climate change, and facilitate trade and investment in relevant clean technologies.
On the digital economy, we want to build confidence in the digital economy, address discriminatory practices and promote trusted and secure cross-border data flows, among other important issues.
We can increase food security and help our farmers, ranchers, and fishers expand access to markets throughout the region by using science-based practices and optimizing land, water, and fuel use.
Increased transparency, good regulatory practices, and stronger consumer protection coupled with fairer competition, expanded access for all small businesses and technical assistance will unlock enormous economic value for our region, especially for small businesses.
Taken together, the components of the trade pillar will promote a race to the top for all, strengthen our supply chains and spur cooperation that supports durable growth.
This Framework will be a model for the rest of the world to follow. It will unlock enormous economic value for our region. And we will develop these pillars with input and discussion from stakeholders, trading partners, and Congress.
The IPEF is our commitment to the region and its people; that the United States will fight for the common good to ensure that the next generation inherits a better world.
And I am excited about continuing our discussions in the weeks and months ahead.
Thank you.
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