U.S.led IndoPacific supply chain deal to take effect Feb. 24
The United States and 13 other Indo-Pacific countries will implement the Indo-Pacific Economic Framework (IPEF) deal on February 24. The agreement aims to strengthen supply chains and help countries deal with disruptions, such as during a pandemic. The deal, launched by US President Joe Biden in May 2022, focuses on common standards for commercial activities and reducing reliance on China for key materials. The IPEF consists of four pillars: trade, supply chains, clean energy and infrastructure, and tax and anti-corruption.
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Frequently Asked Questions
1. What is the U.S.-led Indo-Pacific supply chain deal?
The U.S.-led Indo-Pacific supply chain deal is an agreement signed by the United States and 13 other Indo-Pacific countries aimed at reinforcing their supply chains.
2. When will the U.S.-led Indo-Pacific supply chain deal take effect?
The supply chain deal is set to take effect on February 24.
3. Which countries are part of the U.S.-led Indo-Pacific supply chain deal?
14 countries are involved in the U.S.-led Indo-Pacific Economic Framework (IPEF) talks, though the specific countries participating in the signed agreement were not listed in the provided search results.
4. What are the goals of the Indo-Pacific Economic Framework (IPEF)?
The goal of the IPEF is to make supply chains more resilient against disruptions that can lead to higher prices for consumers, among other economic and strategic objectives.
5. Has a comprehensive trade deal been reached at the U.S.-led Indo-Pacific economic meeting?
As of the latest meeting mentioned in November 2023, no comprehensive trade deal was struck at the U.S.-led Indo-Pacific economic meeting.
6. What are the pillars of discussion in the IPEF negotiations?
The pillars include supply chain resilience and other areas of economic cooperation. The specific pillars were not all detailed in the provided search results, but there has been mention of language being agreed upon for the third and fourth pillars.
7. When was the U.S.-led Indo-Pacific Economic Framework for Prosperity launched?
The U.S.-led Indo-Pacific Economic Framework for Prosperity was launched on May 23, 2022, as part of President Biden's efforts in Asia.
8. Where can I find official information about the Indo-Pacific Economic Framework?
Official information about the Indo-Pacific Economic Framework can be found on the U.S. Department of Commerce website.
For more specific details on the agreement and its implications, refer to the official websites linked in these search results, particularly the Nikkei Asia article that focuses on the deal's effective date.