President Joe Biden on Monday is set to launch a new Indo-Pacific trade pact designed to signal U.S. dedication to the region and address the need for stability in commerce after the chaos caused by the pandemic and Russia's invasion of Ukraine.
The White House says the new Indo-Pacific Economic Framework will help the United States and Asian economies work more closely on issues including supply chains, digital trade, clean energy, worker protections and anticorruption efforts. The details still need to be negotiated among the member countries, making it difficult for the administration to say how this framework can fulfill the promise of helping U.S. workers and businesses while also meeting global needs.
