The proposed IPEF Supply Chain Agreement would make our supply chains more resilient and competitive, and would establish a framework for lasting cooperation on issues like workforce development, supply chain monitoring, investment promotion, and crisis response.
Completing negotiations on the IPEF Supply Chain Agreement is a major achievement in support of the President’s Indo-Pacific Strategy and a win for consumers, workers, and businesses in the United States and throughout the region.
The IPEF partners will now take steps, including further domestic consultations and a comprehensive legal review, to prepare a final text for signature.
Today, the United States joined its IPEF partners – Australia, Brunei, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam – in announcing the substantial conclusion of negotiations on a landmark IPEF Supply Chain Agreement.
The proposed IPEF Supply Chain Agreement seeks to ensure that American workers, consumers, and businesses benefit from resilient, reliable, and efficient supply chains. It would support the President’s effort to revitalize U.S. manufacturing, facilitating the steady supply of the materials, components, and inputs that U.S. companies rely on to compete effectively on the world stage.
The agreement would foster coordination to identify potential supply chain challenges before they become widespread disruptions. Moreover, through the Agreement, partners would work collaboratively to increase the resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity of our supply chains.
The IPEF Supply Chain Agreement would create an IPEF Supply Chain Council to oversee the development of sector-specific action plans designed to build resilience and competitiveness in critical sectors, including by helping companies identify and address supply chain vulnerabilities before they become significant bottlenecks.
Through the proposed agreement, the IPEF partners would also create an IPEF Supply Chain Crisis Response Network that can serve as an emergency communications channel when one or more partners faces an acute supply chain crisis, facilitating more effective responses that can benefit American workers, businesses and consumers. Read More→
