IPEF Supply Chain Deal to Take Effect Feb. 24

The US Commerce Department announced that the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement on supply chains will be implemented on February 24. The agreement, which includes Japan, the US, and Australia, aims to strengthen supply chains by selecting important items to be covered and establishing organizations. Japan, the US, India, Singapore, and Fiji have completed their approval procedures for the IPEF supply chain deal, allowing it to enter into force. US Commerce Secretary Gina Raimondo highlighted the "tangible outcomes" achieved by IPEF members and expressed a commitment to preventing supply chain disruptions.

Source: Link

Frequently Asked Questions

Q1: What is the IPEF Supply Chain Deal?

A1: The Indo-Pacific Economic Framework for Prosperity (IPEF) aims to strengthen supply chains among member countries in response to existing economic, technological, political, and security challenges in the region.

Source: https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_4709

Q2: When will the IPEF Supply Chain Deal take effect?

A2: According to Nippon.com, the IPEF Supply Chain Deal is set to take effect on February 24.

Source: https://www.nippon.com/en/nipponblog/m00068/

Q3: Who announced the IPEF, and when was it announced?

A3: President Biden announced the Indo-Pacific Economic Framework for Prosperity (IPEF) in May 2022.

Source: https://www.state.gov/marking-one-year-since-the-release-of-the-administrations-indo-pacific-strategy/

Q4: What are the key focuses of the IPEF?

A4: The IPEF covers several areas including supply chains, a clean economy, a fair economy, and anti-corruption measures. It seeks to create resilience and ensure high standards for services, intellectual property protection, digital trade, and other aspects.

Sources: https://www.meti.go.jp/english/speeches/press_conferences/2022/1216001.html, https://www.uscc.gov/sites/default/files/2022-11/Chapter_2_Section_2--Challenging_Chinas_Trade_Practices.pdf

Q5: Which countries are involved in the IPEF?

A5: The specific member countries of IPEF are not mentioned in the search results provided. However, it is a cooperative framework involving multiple countries in the Indo-Pacific region aimed at economic prosperity.

Q6: How does Japan view the IPEF?

A6: Japan considers the IPEF to be an important initiative for the region, focusing on discussions of key areas based on common text as it leads dialogues on the subject.

Source: https://www.meti.go.jp/english/speeches/press_conferences/2022/1216001.html

Please verify from the original sources for the most accurate and up-to-date information.