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The Biden administration has faced criticism and backlash for halting the digital trade discussions under the Indo-Pacific Economic Framework (IPEF). This decision has weakened a critical Asia trade agreement intended to counter China's influence in the region. The lack of emphasis on tariff reductions and market access issues has raised concerns among U.S. trading partners and members of Congress. Treasury Secretary Yellen has acknowledged the need for 'further work' in the Indo-Pacific trade talks. The failure to make progress on trade with Indo-Pacific partners is seen as a major setback for the Biden administration.
The failure of the US to make progress on trade with Indo-Pacific partners was called a major setback for the Biden administration https://t.co/muAndZ6lf5
Surprising: "Joe Biden halts plan for Indo-Pacific trade deal". In short the Indo-Pacific Economic Framework for Prosperity (IPEF), announced as "the most significant international economic engagement that the US has ever had in this region", is dead. https://t.co/QAjAgKgWzf
Joe Biden halts plan for Indo-Pacific trade deal after opposition from Democrats https://t.co/jTR1wzwcHQ
Joe Biden halts plan for Indo-Pacific trade deal after opposition from Democrats https://t.co/KFZO4K6YMy
Yellen: Indo-Pacific trade talks need 'further work' https://t.co/wV8v218vEM https://t.co/fzB0YNSLXZ
Yellen: Indo-Pacific trade talks need 'further work' https://t.co/zeYVIAS7tv https://t.co/hzc5J4qWqF
Yellen: Indo-Pacific trade talks need 'further work' https://t.co/cQdNGZbgNR https://t.co/EVBP4GODBz
U.S. trading partners and members of Congress remain concerned that the lack of emphasis on tariff reductions and other market access issues could lead to a missed opportunity to deepen economic ties across the Indo-Pacific, writes @inumanak. https://t.co/rwOnY6GL1C
Biden’s Pacific trade pact suffers setback after criticism from Congress https://t.co/fY3D4r5SPe
The Biden administration’s abrupt shift on global technology rules has weakened a critical Asia trade agreement that was intended to help counter China’s growing clout in the region https://t.co/WyR9xfVP03 https://t.co/WyR9xfVP03
"The Biden administration has backed off from digital trade discussions under the Indo-Pacific Economic Framework, angering technology companies and dimming trade observers' hopes for substantive improvements in e-commerce among the 14 IPEF partners." https://t.co/5D0NnC9MU2