Next week's APEC Summit could restore a semblance of stability in the U.S.-China relationship, writes Michael Froman in a guest commentary.
About the author: Michael Froman is president of the Council on Foreign Relations and a former U.S. Trade Representative.
The goal of this year’s APEC leaders’ meeting is to foster an “interconnected, innovative, and inclusive” Asia-Pacific to create a “resilient and sustainable future for all.” There are likely to be modest agreements on the energy transition and food security, anticorruption, trade facilitation, and environmental goods.
At the same time, the Indo-Pacific Economic Framework will hold a seventh negotiating round in San Francisco just days before the summit. IPEF is Biden’s signature project for expanding U.S. economic leadership in the region. Skeptics have long criticized IPEF for its lack of tariff concessions, which ostensibly makes the deal less attractive to partners, making it difficult to secure meaningful concessions in return.
APEC San Francisco Economic Cooperation World Leaders
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