U.S. announces major Asia economic deal in effort to boost profile, counter China

In a move to raise its economic profile and create another counterbalance to China within Asia, the United States announced on Monday the Indo-Pacific Economic Framework with Asian partners including Australia, Japan and the Republic of Korea.

It’s a broad plan designed to help expand the U.S.′ “economic leadership” in the Indo-Pacific region. The group wants to set international rules on the digital economy, supply chains, decarbonization and regulations applying to workers.

U.S. President Joe Biden has said tackling inflation is a priority and this framework is designed to help lower...