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As part of the hyperactive senior official- and minister-level talks launched during US President Joe Biden's visit to Japan in May, the United States is hosting the first in-person ministerial meeting of "Indo-Pacific Economic Framework" signatory states on Thursday and Friday.
Ministers from 14 member states of the U.S.-led Indo-Pacific economic framework are expected to declare the start of formal negotiations this week in Los Angeles, informed sources say, as they work to codify a rules-based economic order in the fast-growing region.
The US and Taiwan seem willing to set aside bilateral trade irritants and boost commercial ties as relations with China deteriorate.
Removing import tariffs on Chinese goods could lower consumer prices in the U.S. amid inflation, dissipate the U.S.-China trade war, and support the administration’s overall strategy to strengthen its presence and influence in the Indo-Pacific region.
Is the U.S. ready to meaningfully engage with the Asia-Pacific region? Their latest offering comes in the form of the IPEF, and the differences between the U.S.-led trade pact and competing ones led by Asian powers will show whether American leadership has brought enough to the table.