The Biden administration in the United States has announced that an agreement aimed at strengthening the ``supply chain'' of the IPEF (Indo-Pacific Economic Framework), an economic partnership framework in which the United States and Japan participate, will take effect on the 24th of this month.
IPEF is an economic partnership framework in which 14 countries including Japan, the United States, and India participate, with the aim of countering China in the Indo-Pacific region. signed.
The Biden administration announced on January 31 that the agreement would go into effect on the 24th of this month.
Through this, participating countries will promptly share information on the impact and causes of critical supplies such as semiconductors and minerals when they are disrupted due to the spread of infectious diseases or conflicts, and will also provide support to countries where supplies have been disrupted. Other participating countries will provide support through increased production and joint procurement of critical supplies.
The agreement is expected to be a countermeasure against China, which is said to be exercising "economic coercion" such as restricting the export of important goods, and U.S. Secretary of Commerce Lemond said, "This agreement is aimed at preventing any future turmoil. "Through this innovative framework, we will protect the interests of workers and businesses in participating countries."
Regarding IPEF, an agreement has actually been reached in two areas such as the ``clean economy,'' but there was opposition from within the United States in the area of ``trade,'' and the agreement has been shelved, and the Biden administration, which is leading the negotiations, is working with Japan and other countries. The focus will be on whether the negotiations can be concluded.