Trade
US-Led Pacific Group Reaches Deal on Supply Chain Resilience
- Ministers meeting in Detroit agreed to initiative on Saturday
- Supply chains are one of four areas designated as deal focus
Shipping containers at the Busan Port Terminal (BPT) in Busan, South Korea.
Photographer: SeongJoon Cho/BloombergFourteen countries in US-led Indo-Pacific trade talks agreed on supply chain coordination, the most substantial progress so far in President Joe Biden’s new initiative for the region.
Commerce Secretary Gina Raimondo made the announcement on Saturday alongside US Trade Representative Katherine Tai at a gathering of ministers from countries participating in the Indo-Pacific Economic Framework.