Biden launches Indo-Pacific Economic Framework with 12 partner countries

President Biden launches the Indo-Pacific Economic Framework (IPEF) with 12 partner countries including Japan, South Korea, India, Australia, and Southeast Asian nations. The economic initiative aims to strengthen U.S. economic engagement in the Indo-Pacific region and provide an alternative to China's economic influence. The framework focuses on trade, supply chains, clean energy, and anticorruption standards. The launch represents a notable U.S. economic policy initiative in Asia following the withdrawal from the Trans-Pacific Partnership under the Trump administration.