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NFTC Statement on IPEF Ministerial

LOS ANGELES - National Foreign Trade Council (NFTC) Vice President for Global Trade Policy Tiffany Smith today issued the following statement following the conclusion of the first Indo-Pacific Framework (IPEF) Ministerial in Los Angeles, California.

"We appreciate the roadmaps laid out by the United States and regional trading partners and congratulate Ambassador Tai and Secretary Raimondo for their leadership in Los Angeles. Now the hard work begins. We urge countries to quickly build on this momentum to negotiate towards commercially-meaningful commitments.

"As countries look towards short-term wins, there's a real opportunity to develop robust commitments on digital trade and trade facilitation to maximize the benefits of the global digital economy for small businesses and workers and advance regional technology innovation.

"The business community is eager to engage with USTR, the Commerce Department and stakeholders in the region to provide advice and input as work on all aspects of this initiative continues. We also look forward to brainstorming complementary pathways to further the shared objectives identified in the IPEF declaration, including exploring the benefits of market access for advancing energy security and transition, supply chain resilience and a more inclusive digital economy."

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About the NFTC

The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.