The 13 countries negotiating the US-led Indo-Pacific Economic Framework trade pillar said at the close of their Summit that progress is being made, even though they were not able to not able to close out the trade deal.
The acknowledgment from trade ministers came as President Biden announced that talks are completed on the other three pillars – supply chains, clean energy and anti-corruption.
The Administration had hoped the trade pillar would be done as well in time for the Asia Pacific Economic Cooperation meets taking place this week in San Francisco.
President Biden spent his time in San Francisco stressing US longstanding commitment to a region often overshadowed by China.“We aren’t going anywhere. For decades, America’s enduring commitment to the region has been a springboard that’s enabled growth – transformative growth, ensured the open flow of commerce, and lifted millions of people out of poverty,” he said.
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