Two large trade frameworks have emerged in the Pacific region: first, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which the United States initiated but left before it entered into force in 2018; and second, the Indo-Pacific Economic Framework for Prosperity (IPEF), an economic agreement—not a trade deal—that formed in 2022, paving the way for cooperation between the United States and 13 countries in the region.
What do these two trade arrangements hope to achieve? Are they overlapping or complementary? Can the IPEF be a tool to de-risk supply chains? Participants in this episode of the Trade Winds event series also discuss what the United States hopes to get out of the IPEF and what the other partners expect from the two agreements.
Nonresident Senior Fellow, Peterson Institute for International Economics (PIIE)
Vice President and Managing Director, Washington DC office, Asia Society Policy Institute; Former Acting Deputy US Trade Representative
Head of Asia-Pacific Trade and Competitiveness Policy, Google
Senior Fellow, PIIE, Former Trade Minister of the Republic of Korea