This week in Australia, the United States and 13 other countries are holding their first negotiating session of the Indo-Pacific Economic Framework for Prosperity (IPEF), an initiative designed to underscore the strong U.S. economic commitment to the region. Such efforts are long overdue. China has substantially stepped up its game in the Indo-Pacific in recent years, including this year’s entry into force of the Regional Comprehensive Economic Partnership (RCEP), the largest trade agreement in the world. This pact cuts tariffs, harmonizes standards and establishes rules of trade among 15 members, including key U.S. allies like Australia, Japan and Vietnam. This makes it easier for
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