The Japan News on Nostr: IPEF Supply Chain Pact Comes into Effect ========== An Indo-Pacific Economic ...
IPEF Supply Chain Pact Comes into Effect
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An Indo-Pacific Economic Framework for Prosperity agreement on supply chains came into effect on Saturday, with the 14 member countries, including Japan and the United States, to designate important items and strengthen supply chains. The IPEF initiative, announced by U.S. President Joe Biden in May 2022, aims to create common rules in the areas of trade, clean economy, fair economy, and supply chains. The IPEF members signed the supply chain agreement last November. Under the deal, they will draw up action plans for items designated as important by three or more members to diversify supply sources and overcome logistical weaknesses. The agreement also includes mechanisms to protect the rights of related workers. Donald Trump has suggested that he would pull the United States out of the IPEF initiative if elected.
https://japannews.yomiuri.co.jp/world/asia-pacific/20240225-170982/
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An Indo-Pacific Economic Framework for Prosperity agreement on supply chains came into effect on Saturday, with the 14 member countries, including Japan and the United States, to designate important items and strengthen supply chains. The IPEF initiative, announced by U.S. President Joe Biden in May 2022, aims to create common rules in the areas of trade, clean economy, fair economy, and supply chains. The IPEF members signed the supply chain agreement last November. Under the deal, they will draw up action plans for items designated as important by three or more members to diversify supply sources and overcome logistical weaknesses. The agreement also includes mechanisms to protect the rights of related workers. Donald Trump has suggested that he would pull the United States out of the IPEF initiative if elected.
https://japannews.yomiuri.co.jp/world/asia-pacific/20240225-170982/