Memorandum: Wyden Statement on Launch of Indo-Pacific Economic Framework

Memorandum: Wyden Statement on Launch of Indo-Pacific Economic Framework

MEMORANDUM

Senate Finance Committee Chair Ron Wyden, D-Ore., today issued the following statement, praising President Biden's announcement of new discussions with economic partners in the Indo-Pacific region to strengthen supply chains and create a more resilient economy for American workers and families.

"The Indo-Pacific Economic Framework is a chance for the U.S. and our allies to write the rules of the road for trade, undermining China's ability to spread its authoritarian model, and improve supply chain routes with like-minded countries in Asia. It's a crucial counterweight to the Chinese government's model of trade cheating, government subsidies and repression," Wyden said.

"I commend President Biden - and the other twelve countries joining the IPEF discussions - on recognizing the need for a fresh and innovative approach to trade policy and trade agreements that puts American values first. That means placing the needs of workers front and center and ensuring that climate impacts are not only discussed, but actually addressed through active decarbonization efforts. And it means putting the drivers of the 21st century economy - from digital trade to international standards - at the heart of the discussions. I continue to urge full consultation and transparency with stakeholders and Congress throughout this process, to ensure that these agreements truly support American workers, farmers and consumers alike."

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