© Reuters. FILE PHOTO: A sign advertising the upcoming APEC (Asia-Pacific Economic Cooperation) Summit in see as the city prepares to host leaders from the Asia-Pacific region in San Francisco, California November 8, 2023. REUTERS/Carlos Barria/File Photo
By David Lawder
SAN FRANCISCO (Reuters) – The Biden administration is aiming to show that its key Asian economic initiative is making progress as Pacific Rim leaders gather in San Francisco next week, but significant holes remain on trade-related chapters, people familiar with the talks say.
Negotiators from 14 countries are racing to close out chapters of the Indo-Pacific Economic Framework for Prosperity in hastily arranged talks this week, with announcements expected on cooperation to accelerate the clean energy transition and to fight corruption and tax evasion.
U.S. President Joe Biden is keen to portray IPEF as producing meaningful outcomes to leaders of Asia Pacific Economic Cooperation countries, as he seeks to offer them a U.S.-led alternative to deeper economic ties to China.
When the administration launched the IPEF negotiations in 2023, it made clear that the U.S.-hosted APEC summit was a key deadline, “and…
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