Filling the "strategic gap" in the Indo-Pacific, the US-Indo-Pacific economic structure faces many challenges U.S. President Joe Biden will visit Japan on May 23, 2022, and officially announce the long-awaited "Indo-Pacific Economic Framework" (IPEF) in Tokyo, including the United States, Japan, and South Korea. 13 founding member countries; Fiji also announced its membership on May 26, becoming the 14th member country and the first country among the Pacific island countries to join.
Biden proposed the concept of the "Indo-Pacific Economic Architecture" to the outside world at the East Asia Summit (East Asia Summit) held photo retouching online as early as October 2021. This economic and trade initiative is mainly to fill the strategic gap left by the Trump administration's withdrawal from the Trans-Pacific Partnership Agreement (then called TPP, now CPTPP) in 2017, allowing the United States to integrate economic and trade with Asia.
However, it would be overly optimistic to think that the United States can easily achieve these goals. According to the content of the "Indo-Pacific Economic Framework" published by the Office of the United States Trade Representative, we can see that this economic and trade initiative focuses on four major axes, including: "trade", "supply chain", "clean energy and Carbon Reduction and Infrastructure", "Taxation and Anti-Corruption". The content announced this time is not much different from the content expected by the outside world in the past few month