Mr. Biden will announce the launch of IPEF when visiting Japan
US President Joe Biden will announce the launch of a new regional initiative called the Indo-Pacific Economic Framework (IPEF) when he visits Japan starting Sunday, the White House said.
Biden will begin a five-day tour of South Korea and Japan on Friday.
On Wednesday, US National Security Adviser Jake Sullivan stressed the importance of the US President's visit at a time when the world is reacting to Russia's invasion of Ukraine. He said the president intends to use this pivotal moment to assert US leadership in the Indo-Pacific region.
The security adviser said Mr Biden would launch the IPEF economic framework when he met Prime Minister Kishida Fumio. Mr. Sullivan said the IPEF's goal is to tackle new challenges, such as establishing the rules for the digital economy, ensuring a strong supply chain, and managing energy transition.
The content of the initiative seems to have China in mind.
Mr. Sullivan said leaders of the Indo-Pacific region, including Southeast Asian countries, will participate in the launch of this new framework in an online form.
Reference: NHK WORLD – JAPAN