IPEF Briefing on
Last year, the United States launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. The IPEF has four pillars: Trade; Supply Chains; Clean Economy; and Fair Economy.
Pillars II-IV have gone smoothly as these were areas in which there was little to no disagreement among IPEF members. But talks on Pillar I to expand trade and investment failed to overcome the countries’ differences and divisions within the US itself. The US pushed for rules that would set high labor and environmental standards for product development. However, Southeast Asian countries objected to a framework that would impose tough requirements without sweeteners such as tariff cuts. US industry groups have also expressed frustration with IPEF’s limited benefits, particularly in terms of digital trade, talks on which were halted amid opposition from US lawmakers.
AmCham members are invited to join a virtual briefing on December 8 featuring the IPEF chief negotiator from the Commerce Department Sharon Yuan to hear details about Pillars II-IV and the path forward for IPEF.
AmCham Virtual Meetings provide unprecedented access to the political, policy, corporate, and institutional leaders whose expertise, insights, and experience shape the global business climate. There is no cost to participate. This virtual meeting is English-language and registered participants will receive the Zoom link prior to the meeting. Please register your participation by clicking on the button below or by calling the AmCham office (84) 24 3934 2790.