Trade experts in a WisBusiness.com virtual trade luncheon said the Biden administration’s Indo-Pacific trade framework could lead to economic growth for Wisconsin despite continuing tensions with China.
President Biden in May announced the framework aiming to combat inflation and lower costs. Partners of the trade initiative include: the United States, Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. Critics have noted the absence of Taiwan and Canada.
Tom Still, event moderator and Wisconsin Tech Council president, noted 15 percent of state exports in 2021 were tied to one of the countries in the Indo-Pacific framework.