U.S. President Joe Biden attended the APEC Summit in San Francisco, on the sidelines of which he met China President Xi Jinping.
Post the summit, Biden said that he would keep working to advance a Pacific trade pact, even as his vision for a regional deal to counter China’s influence stumbled over his bid to strengthen workers’ rights.
The corporate CEOs, who attended the 21-member Asia Pacific Economic Cooperation summit, were told “our work is not yet done,” by Biden.
“We will continue working to better facilitate high-standard trade that advances workers’ rights through strong enforcement of labor standards.”
The president was also scheduled to take part in an event for the Indo-Pacific Economic Framework (IPEF), a 14-nation group his administration established.
Deputy U.S. Trade Representative Sarah Bianchi said that the nation and its Indo-Pacific partners are required to regroup and “recalibrate” their trade pillars negotiations early next year, as reported by Reuters.
When asked how long an IPEF trade agreement could take to conclude, an administration official said that it is likely to take years but the White House is working on “accelerated timeline.”