The launch of the first agreement under the US Indo-Pacific Economic Framework

Abstract

The framework’s first element, focusing on supply-chain security, came into force on 24 February. The 14 participant countries designed the framework to increase mutual economic integration, but it has faced setbacks, including Washington’s abandonment in late 2023 of an ambitious trade-related pillar. Nonetheless, the remaining elements of the deal are likely to be finalised and adopted later in 2024.