“We are launching IPEF, which aims to work together with our partners in the Indo-Pacific region to ensure competitiveness in the 21st century,” Biden said from a joint press conference with Japanese Prime Minister Fumio Kishida RIA Novosti.
According to the American side, IPEF is a new economic agreement that is designed to solve a number of joint tasks: to establish the rules of the digital economy, as well as to ensure sustainable supply chains.
Earlier it was reported that Biden supported the desire of Japan to become a permanent member of the UN Security Council.