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[Foreign Affairs · Politics] [박태호 회원/Bark Tae-ho] Indo-Pacific Economic Framework (Korea Joongang Daily 2022.04.17)

Date: 2022-04-17

Korea Joongang Daily | Bark Tae-ho  President, Lee&Ko Global Commerce Institute; Professor Emeritus, Graduate School of International Studies, Seoul National University

 

After U.S. President Joe Biden mentioned his vision for the Indo-Pacific Economic Framework (IPEF) last October, the White House in February announced the U.S. government’s Indo-Pacific Strategy, an economic pillar of which is the IPEF aimed at achieving prosperity of the region. Since then, the United States Trade Representative (USTR) and the Department of Commerce have broadly explained the concept of the economic framework, but the details, including its formality and negotiating methods, have not been released yet. The U.S.-Asean Special Summit slated for late March in Washington was expected to offer some clues about the new economic framework, but after the meeting was delayed for scheduling problems, additional information on the IPEF is not available yet.

In the first annual U.S.-Indo-Pacific Conference cohosted by the Center for Strategic and International Studies (CSIS) and the U.S.-Asean Business Council in Washington on April 5-6, Deputy U.S. Trade Representative Sarah Bianchi said that the IPEF will have four pillars — fair and resilient trade, elastic supply chains, infrastructure and carbon reduction, and tax and anti-corruption. She went on to say that countries do not have to participate in all four categories but must follow what they agreed to without exception once they choose particular categories.

 

 

 

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Source: https://koreajoongangdaily.joins.com/2022/04/17/opinion/columns/IPEF-economy/20220417195113533.html

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