Secretary Raimondo participated in negotiations for a fair, clean economy with a strong supply chain.
Leaders from the United States and 13 nations gathered in Singapore last week to continue negotiating the terms of the Indo-Pacific Economic Framework for Prosperity (IPEF), an international trade agreement that first began development in 2022. There are more facets to solidify in the future, but the 14 nations signed three agreements within IPEF, committing to fostering supply chain resilience and a clean and fair economy.
At the end of their meeting in Singapore, the Commerce Department noted that “the IPEF partners acknowledged the unique opportunities available for deeper economic collaboration through IPEF,” and are “committed to prioritizing work as envisioned under each of the three IPEF agreements in the coming months.”
The group’s next meeting will be held virtually in September 2024.
As the Lord Leads, Pray with Us…
- For Secretary Raimondo to be discerning in her support for economic development is in the Indo-Pacfic.
- For U.S. Commerce Department officials as they assess the outstanding features that are still under negotiation.
Sources: Department of Commerce
