Since the US withdrawal from TPP in 2017, Australia has remained keen to see the United States re-engage Asia on trade. The Biden administration launched the Indo-Pacific Economic Framework (IPEF) in May of 2022 to balance economic engagement in the region with a “foreign policy for the middle class” approach that prioritised increasing labor and environmental standards. Some early harvest provisions were announced at the Asia Pacific Economic Cooperation (APEC) Leaders’ Summit last month, but in balancing trade with labour policy, questions remain over their value for IPEF member countries.

How is the Biden administration’s economic strategy in Asia different than prior administrations? How should Australia and other US allies understand US opinion on trade strategy? Did the early harvest provisions announced at APEC earn a passing grade or is it too little, too late?

United States Studies Centre (USSC) Economic Security Director Hayley Channer and Research Associate Samuel Garrett discuss their assessment of IPEF post APEC with Research Director Jared Mondschein.

Read more:

An economic pillar to round out US strategy in Asia: IPEF and Australia's interests by Hayley Channer, Victoria Cooper and Jared Mondschein

What options are on the table for IPEF? by Samuel Garrett

USSC Insights | IPEF supply chain agreement by Georgia Edmonstone

 

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