US President Joe Biden on Monday announced the launch of a new Asia-Pacific trading network during a visit to Japan. The framework, which includes an initial 13 countries, including India and Japan, has been touted as a counterweight to China's aggressive expansion in the region.
"The United States and Japan, together with 11 other nations, will be launching" the Indo-Pacific Economic Framework for Prosperity, or IPEF, Biden said at a press conference alongside Japanese Prime Minister Fumio Kishida.
