IPEF members agree on supply chain deal to cut China reliance
The Indo-Pacific Economic Framework (IPEF) has reached a deal on supply chain resilience and diversification, with 14 participant countries, including the US and India, agreeing to information-sharing and coordinated crisis response. The group will establish an IPEF supply chain council, supply chain crisis response network, and labour rights advisory network. The deal aims to increase the resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity of supply chains. The agreement is subject to domestic approval processes and translation into a final text.