Economic ministers from the United States and 13 Asia-Pacific countries are set to launch negotiations for Washington’s first major pan-Asian trade engagement effort in nearly a decade, but this time any deal will not cut tariffs.The Indo-Pacific Economic Framework talks that begin in Los Angeles on Thursday will seek to define a sweeping platform for market-driven economies to engage on trade and data flows, environmental and labour standards, supply chains and anti-corruption efforts.The negotiations will be led by US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo. President Joe Biden launched the Indo-Pacific initiative in May during a trip to Tokyo, but some critics questioned its value to participating countries.
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