IPEF Countries Cite Progress in Trade Pillar
A joint statement by the leaders of the Indo-Pacific Economic Framework countries said the trade pillar has made progress, and the White House said they will continue negotiations "to facilitate trade, advance workers’ rights through strong and enforceable labor standards, strengthen environmental protections, align our regulatory procedures, promote a fair and inclusive digital economy, deepen our technical assistance and economic cooperation, and advance inclusivity in our trade policy."
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U.S. Trade Representative Katherine Tai also issued a statement saying politicians from IPEF countries took stock of the progress their teams have made in trade negotiations, adding: "We are committed to continuing our work towards a mutually beneficial Trade Pillar outcome...."
But National Foreign Trade Council President Jake Colvin praised the completion of the Commerce pillars, saying he expects them to "deliver commercially-meaningful outcomes," but said he's frustrated "to see progress stall on efforts to develop the kind of concrete trade rules that foster certainty for American businesses and raise standards among our key allies in the region."
He said businesses particularly need commitments in trade facilitation and digital trade.
The Commerce pillars cover tax/anti-corruption, climate, and supply chains.