US To Host Indo-Pacific Economic Framework Ministerial In Sept

The US Department of Commerce has announced that the United States will host an Indo-Pacific Economic Framework Ministerial (IPEF) from September 8-9, "to further the Biden Administration's effort to deepen economic ties in the region."

• The event, co-hosted by Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo, will be the first in-person Ministerial of the group and take place in Los Angeles, California.
• A Commerce Department Statement says the event, "builds on the constructive virtual meetings with 13 Indo-Pacific partners held this year before and after President Biden officially launched the IPEF to develop a high-standard and inclusive economic framework that will fuel economic activity and investment, promote sustainable and inclusive economic growth, and benefit workers and consumers across the region."
• Cont: "During the Ministerial, Ambassador Tai and Secretary Raimondo will convene meetings with ministers to continue active discussions in each of the four pillars: trade; supply chains; clean energy, decarbonization, and infrastructure; and tax and anti-corruption."
• The IPEF has been criticised for failing to provide meaningful market access to participating countries.
• Robert D. Atkinson wrote in Foreign Policy in July: "IPEF is a trade partnership, not a formal trade agreement, and foreign nations say what they really want is access to U.S. markets that the latter would have guaranteed. Many in the U.S. trade policy community agree, arguing that IPEF is a well-meaning but largely hollow effort."