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U.S. Aims to Begin New Asia Framework in 2022, Raimondo Says

  • U.S. won’t be joining CPTPP now, commerce secretary reiterates
  • Administration laying groundwork for a new economic framework
Bloomberg business news
WATCH: U.S. Commerce Secretary Raimondo says the Biden administration is likely to launch a new economic framework for the Indo-Pacific in 2022.Source: Bloomberg
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The U.S. intends to initiate a new economic framework for the Indo-Pacific in 2022, Commerce Secretary Gina Raimondo said, as the Biden administration aims to reinvigorate America’s standing in the region.

“We’re likely to launch a more formal process in the beginning of next year which will culminate in a proper economic framework” in Asia, Raimondo said at the Bloomberg New Economy Forum in Singapore Wednesday. “I am here in the region beginning the discussions, laying the groundwork.”