Biden deploys to Japan to join new Asian trade deal

TOKYO (AP) — President Joe Biden on Monday marks the signing of a new Indo-Pacific trade deal designed to mark the U.S. commitment to the region and address the need for stability in commerce following the chaos caused by the epidemic and Russia’s invasion of Ukraine. The expected.

The White House said the new Indo-Pacific economic framework will help the US and Asian economies work more closely on issues including supply chain, digital trade, clean energy, worker protection and anti-corruption efforts. Details still have to be negotiated between member countries, so it’s hard to say how the administration can deliver on its promise that this framework will meet global needs while supporting American workers and businesses.

The signatories to the framework were due to be announced on Monday during Biden’s visit to Tokyo for a meeting with Prime Minister Fumio Kishida. It is the most recent move by the Biden administration to maintain and expand American influence in the region, which until recently appeared to be growing in Chinese influence.

Kishida hosted an official state reception for Biden at Akasaka Palace, and the front plaza featured a white coat of arms and a band. Biden looked around the assembled troops and placed his hand on his heart when passing the American flag and bowed his head slightly as he passed the Japanese flag.

Former Vice President Joe Biden will visit South Korea and Japan on the 5th, his first trip to Asia during his presidency on the 5th. The White House announced plans to establish an economic framework in October to replace the Trans-Pacific Partnership (TPP), which was withdrawn by then-US President Donald Trump in 2017.

The new pact comes at the moment when the administration thinks it has a competitive edge with Beijing. Bloomberg Economics released a report last week that forecasts GDP growth in the US at around 2.8% in 2022 and 2% in China. The recession shattered assumptions that China would automatically overtake the United States as the world’s largest economy.

“The fact that the United States will grow faster than China this year for the first time since 1976 is a striking example of how countries in the region should view issues of trends and trajectories,” the White House’s National Security Office said. Advisor Jake Sullivan.

Critics say the framework has many loopholes. It does not incentivize prospective partners by lowering tariffs or giving signers more access to the US market. These restrictions may not make the US structure an attractive alternative to the Trans-Pacific Partnership. China, the region’s largest trading partner, is also seeking to join the TPP.

“A lot of our partners look at this list and say, ‘This is a good list of issues. We are delighted to be involved,’ said Matthew Goodman, former Director of International Economics at the National Security Council (NSC) during the Barack Obama administration. But he said they might ask, “What tangible benefits can I get from participating in this framework?”

A country can be part of both trade deals.

Biden’s first visit was on Monday after Emperor Naruhito held private talks at his residence on the lush grounds of the Imperial Palace, followed by discussions on trade with Kishida, Russia’s invasion of Ukraine, North Korea’s nuclear threat, and the two countries’ affair. It was an extensive discussion. ‘ Response to COVID-19, etc.

The two leaders were also scheduled to meet a Japanese family abducted by North Korea decades ago. The Japanese prime minister took office last fall and is working to strengthen ties with the United States and build a personal relationship with Biden. He will entertain the president at a restaurant for dinner.

The launch of the Indo-Pacific Economic Framework, also known as the IPEF, was marked by the White House as one of the larger moments in Biden’s tour of Asia and his continued efforts to strengthen relations with his Pacific allies. Throughout this process, administration officials have kept a close eye on China’s growing economic and military power in the region.

In September, the United States announced a new partnership with Australia and the United Kingdom, AUKUS, to target and deepen security, diplomatic and defense cooperation in the Asia-Pacific region. Through that AUKUS partnership, Australia will purchase nuclear submarines and the United States will increase its rotational force deployments to Australia.

The President of the United States also paid great attention to the unofficial alliance known as the Quad, formed during the response to the 2004 Indian Ocean tsunami that claimed the lives of approximately 230,000 people. Biden and fellow leaders of the alliance, including Australia, India and Japan, will gather in Tokyo for a second face-to-face meeting in less than a year. Leaders have also held two video calls since Biden came to power.

And earlier this month, former Vice President Biden invited nine out of ten members of the Association of Southeast Asian Nations (ASEAN) to Washington for their first summit in the US capital. Former Vice President Biden announced at the summit that the United States would invest approximately $150 million in clean energy and infrastructure initiatives in ASEAN countries.

Sullivan confirmed on Sunday that Taiwan, which wanted membership in the IPEF framework, would not be included in the government to be included. The participation of Taiwan’s autonomous island, which China claims to be its territory, would have upset Beijing.

Sullivan said the United States wants to deepen its economic partnership with Taiwan, including one-on-one on high-tech issues and semiconductor supply.

Former Vice President Joe Biden will close his five-day Asian tour on Tuesday with a fourth meeting and one-on-one meeting with Indian Prime Minister Narendra Modi and new Australian Prime Minister Anthony Albaniz.

This weekend, the centre-left leader of the Australian Labor Party defeated incumbent MP Scott Morrison, ending nine years of conservative rule.

Modi, the leader of the world’s largest democracy, has refused to join the United States and other allies in imposing sanctions on Russia for an invasion of Ukraine. In a video call last month Former Vice President Biden has asked Modi not to rush to buy Russian oil.


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