At its core, the Economic Framework will link major economies and emerging ones to tackle 21st century challenges and promote fair and resilient trade for years to come.„
Ambassador Katherine Tai
In May 2022, the United States launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with Australia, Brunei Darussalam, Fiji India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Viet Nam.
This framework will advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for our economies.
On September 9, 2022, USTR and 12 IPEF partners issued a ministerial statement outlining the scope of future negotiations for the Trade Pillar. The Trade Pillar, includes Australia, Brunei Darussalam, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Viet Nam.
The Indo-Pacific Economic Framework is a clear demonstration of the Biden Administration’s commitment to pursuing economic engagement that benefits American workers, families, and businesses.„
Secretary of Commerce Gina Raimondo
What They Are Saying
"IPEF will deepen U.S. engagement and expand our collaboration to take on the most important economic issues we face today. America is invested in the future of a free and open Indo Pacific"
"The Indo-Pacific Economic Framework is a chance for the U.S. and our allies to write the rules of the road for trade, undermining China’s ability to spread its authoritarian model, and improve supply chain routs with like-minded countries in Asia."
"The framework can construct more resilient supply chains, raise labor standards, facilitate digital trade, open new markets for American farmers, ranchers, and fishers, and bolster regional efforts to combat climate change."