Last fall, President Biden announced that the United States would explore development of an Indo-Pacific Economic Framework (IPEF) to deepen economic relations in the region and collaborate to address global economic challenges. In February, the administration published additional information regarding its plans. As officials from the U.S. Trade Representative (USTR), the U.S. Department of Commerce (DOC) and other agencies advance this initiative, PhRMA encourages the administration to pursue an IPEF agreement that is as comprehensive and ambitious as possible. Such an agreement should include strong intellectual property (IP) protections and predictable and transparent market access, regulatory and other provisions that incentivize innovation, dismantle unfair trade barriers and facilitate the manufacturing and distribution of lifesaving medicines.
