US President Joe Biden on May 23 launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with 12 initial partners: Australia, Brunei, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. According to a White House fact sheet, these countries represent 40% of the world’s Gross Domestic Product (GDP).
Action item: Companies that engage in trade or are considering engaging in trade with any of the IPEF countries should determine how the framework could enhance opportunities in those countries.
Source PwC
