reedak
Well-Known Member
- Joined
- May 1, 2014
- Messages
- 728
1. TOKYO -- The U.S. government has announced that its new economic grouping for the Indo-Pacific will begin with 13 inaugural members, accounting for about 40% of the world's gross domestic product.
The 13 initial members of the group, the Indo-Pacific Economic Framework (IPEF), are the U.S., Japan, India, South Korea, Australia, Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, New Zealand and Brunei, the Biden administration said Monday....
Source Link: https://asia.nikkei.com/Politics/In...work-to-begin-with-13-nations-including-India
2. ...Though many of the Indo-Pacific Economic Framework’s details have yet to be finalised, the Biden administration has made one point clear – the plan is not a traditional trade agreement that will lower tariffs or otherwise open access to US markets, but a partnership for promoting common economic standards.
While many of China’s regional neighbours share Washington’s concerns about the burgeoning superpower’s ambitions, the IPEF’s lack of clear trade provisions could make it an uninspiring prospect for potential members, especially in Southeast Asia.
“You can sense the frustration for developing, trade-reliant countries,” Calvin Cheng, a senior analyst of economics, trade and regional integration at Malaysia’s Institute of Strategic and International Studies, told Al Jazeera. “There’s always talk about engaging Asia, the idea, but what exactly is it – and what are the incentives for developing countries to take up standards that are being imposed on them by richer, developed countries?”...
Source Link: https://www.isis.org.my/2022/05/20/difficult-to-believe-bidens-economy-plan-a-tough-sell-in-asia/
3. A military cargo plane carrying the first shipment of infant formula, weighing 35 tonnes (77,000 pounds), has landed in Indianapolis as part of the Biden administration’s “Operation Fly Formula” to import the product from Europe and address a critical shortage in the United States.
It is the first of several flights from Europe carrying infant formula, made for children who have allergic reactions to protein and cow milk, expected this weekend to relieve the deepening shortage in the US due to the closure of the nation’s largest domestic manufacturing plant in Michigan in February over safety issues....
Source Link: https://www.aljazeera.com/news/2022/5/22/us-imports-more-than-35000kgs-of-infant-formula-from-europe
4. ...Trump has floated the idea of a reciprocal tax in the past, promising to slap it on countries, including allies, that take advantage of the United States.
The president also addressed ongoing negotiations over the North American Free Trade Agreement and complained that Canada, which is a party to that trade pact along with Mexico and the U.S., doesn't treat the U.S. well. He also complained about Mexico's treatment of the U.S.
"We cannot continue to be taken advantage of by other countries," Trump said. "We cannot continue to let people come into our country and rob us blind, and charge us tremendous tariffs and taxes, and we charge them nothing. We cannot allow that to happen. We cannot allow it to happen."
He also complained about the U.S. losing "vast amounts of money" in trade with China, Japan, South Korea and other countries....
Source Link: https://www.foxbusiness.com/markets/trump-threatens-tax-on-countries-that-exploit-us-trade
5. Lest you still don't understand what the self-declared "Messiah" ex-president meant when he vowed the US "cannot continue to be taken advantage of by other countries", just take a look at the following image:
The guy seems to exert a huge mysterious influence over his gas-emitting successor. Those countries that join the so-called new "economic" grouping for the Indo-Pacific in the hope of getting market access into the US will be greatly frustrated and disappointed.
It is a big disgrace that the so-called sole superpower can't even produce enough infant formula to feed its infants. In my opinion, a more appropriate name for the so-called new "trade" or "economic" grouping for the Indo-Pacific should be "Infant Formula Economic Framework (IFEF)".
The 13 initial members of the group, the Indo-Pacific Economic Framework (IPEF), are the U.S., Japan, India, South Korea, Australia, Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, New Zealand and Brunei, the Biden administration said Monday....
Source Link: https://asia.nikkei.com/Politics/In...work-to-begin-with-13-nations-including-India
2. ...Though many of the Indo-Pacific Economic Framework’s details have yet to be finalised, the Biden administration has made one point clear – the plan is not a traditional trade agreement that will lower tariffs or otherwise open access to US markets, but a partnership for promoting common economic standards.
While many of China’s regional neighbours share Washington’s concerns about the burgeoning superpower’s ambitions, the IPEF’s lack of clear trade provisions could make it an uninspiring prospect for potential members, especially in Southeast Asia.
“You can sense the frustration for developing, trade-reliant countries,” Calvin Cheng, a senior analyst of economics, trade and regional integration at Malaysia’s Institute of Strategic and International Studies, told Al Jazeera. “There’s always talk about engaging Asia, the idea, but what exactly is it – and what are the incentives for developing countries to take up standards that are being imposed on them by richer, developed countries?”...
Source Link: https://www.isis.org.my/2022/05/20/difficult-to-believe-bidens-economy-plan-a-tough-sell-in-asia/
3. A military cargo plane carrying the first shipment of infant formula, weighing 35 tonnes (77,000 pounds), has landed in Indianapolis as part of the Biden administration’s “Operation Fly Formula” to import the product from Europe and address a critical shortage in the United States.
It is the first of several flights from Europe carrying infant formula, made for children who have allergic reactions to protein and cow milk, expected this weekend to relieve the deepening shortage in the US due to the closure of the nation’s largest domestic manufacturing plant in Michigan in February over safety issues....
Source Link: https://www.aljazeera.com/news/2022/5/22/us-imports-more-than-35000kgs-of-infant-formula-from-europe
4. ...Trump has floated the idea of a reciprocal tax in the past, promising to slap it on countries, including allies, that take advantage of the United States.
The president also addressed ongoing negotiations over the North American Free Trade Agreement and complained that Canada, which is a party to that trade pact along with Mexico and the U.S., doesn't treat the U.S. well. He also complained about Mexico's treatment of the U.S.
"We cannot continue to be taken advantage of by other countries," Trump said. "We cannot continue to let people come into our country and rob us blind, and charge us tremendous tariffs and taxes, and we charge them nothing. We cannot allow that to happen. We cannot allow it to happen."
He also complained about the U.S. losing "vast amounts of money" in trade with China, Japan, South Korea and other countries....
Source Link: https://www.foxbusiness.com/markets/trump-threatens-tax-on-countries-that-exploit-us-trade
5. Lest you still don't understand what the self-declared "Messiah" ex-president meant when he vowed the US "cannot continue to be taken advantage of by other countries", just take a look at the following image:
The guy seems to exert a huge mysterious influence over his gas-emitting successor. Those countries that join the so-called new "economic" grouping for the Indo-Pacific in the hope of getting market access into the US will be greatly frustrated and disappointed.
It is a big disgrace that the so-called sole superpower can't even produce enough infant formula to feed its infants. In my opinion, a more appropriate name for the so-called new "trade" or "economic" grouping for the Indo-Pacific should be "Infant Formula Economic Framework (IFEF)".
