The United States is working on a new trade deal with 12 Indo-Pacific nations. President Joe Biden outlined the framework agreement while in Tokyo. Biden said this agreement would help prepare these economies for the future. “Let’s create a first-of-its-kind supply chain commitment to eliminate bottlenecks and develop early warning systems so we can identify problems before they occur.” The countries joining the U.S. in the Indo-Pacific Economic Framework include Japan, Australia, New Zealand, South Korea, India, Philippines, Singapore, Malaysia, Indonesia, Vietnam, Thailand and Brunei. With the U.S., these countries represent 40 percent of the world’s gross domestic product.
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