SOUTH FINLAND: On Monday, US Treasury Secretary Janet Yellen stated that although trade requires “further work,” there has been “very substantial progress” in three of the four areas that the 14 members of the Indo-Pacific Economic Framework are currently debating.
Indo-Pacific trade talks: A focal point of the Biden administration’s endeavours to enhance economic connections with Asian countries and fight China’s increasing hegemony in the Pacific, the IPEF serves as a platform for multilateral discussions with the goal of establishing agreements in several domains, including commerce.
Yellen stated at a press conference in San Francisco, “I understand that we’ve made very substantial progress on three of the four pillars” of the negotiations, which encompassed supply chains, the climate transition, and anti-corruption.
