Biden Administration Announces Indo-Pacific Deal, Clashing With Industry Groups
The Biden administration announced Saturday that it had reached an agreement with 13 other countries in the Indo-Pacific region to coordinate supply chains, in an effort to lessen the countries’ dependence on China for critical products and allow them to better weather crises like wars, pandemics and climate change.
The supply chain agreement is the first result of the administration’s trade initiative in the region, called the Indo-Pacific Economic Framework. Negotiations are continuing for the other three pillars of the agreement, which focus on facilitating trade and improving conditions for workers, expanding the use of clean energy, and reforming tax structures and fighting corruption.
Gina Raimondo, the secretary of commerce, said the supply chain agreement would deepen America’s economic cooperation with partners in the Indo-Pacific region, helping American companies do business there and making the United States more competitive globally.
“Bottom line is, this is about increasing the U.S. economic presence in the region,” she said in a call with reporters Thursday.
Source: The New York Times
