US trade chief seeks new thinking on global challenges as APEC ministers meet

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US trade chief seeks new thinking on global challenges as APEC ministers meet - Economic Times

Quick Summary:

Trade experts said subsequent talks on the U.S.-led Indo-Pacific Economic Framework initiative (IPEF) - featuring many of the same APEC ministers, but not China's - would be a higher priority for U.S.officials.

The plans, which have not been confirmed by the U.S.agencies, come amid a string of setbacks for U.S.and Chinese efforts to resume dialogue on economic and trade issues, starting with the downing of a Chinese spy balloon in U.S.coastal waters.

"It's significant that China seems now willing to engage at cabinet level," said Matthew Goodman, senior vice president of economics at the Center for Strategic and International Studies and a former White House official who planned APEC, G20 and other global meetings.