U.S. President Joe Biden formally lifted the veil on the new Indo-Pacific Economic Framework (IPEF) at a ceremony on Monday in Tokyo alongside fellow Quad leaders Fumio Kishida from Japan, India’s Narendra Modi, and newly-elected Australian Prime Minister Anthony Albanese.
13 countries in the region signed on to the new initiative, although at this point it really doesn’t mean very much since the specific details of the plan have yet to be negotiated. Broadly speaking, IPEF will have four pillars:
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