US President Joe Biden met with ‘Quad’ country leaders in Tokyo on Monday, as one of the most important meetings in recent years that will affect the geopolitics and security of the Indo-Pacific region.
The Quadrilateral Security Dialogue (QSD) or better known as the Quad, is a strategic security between Australia, India, Japan and the United States that is maintained through discussions between member states.
Following the meeting, the United States announced the Indo-Pacific Economic Framework (IPEF) with Asian partners including Australia, Japan and South Korea in an effort to raise its economic profile and fight China in Asia.
It is a broad plan designed to help develop US ‘economic leadership’ in the Indo-Pacific region.
The group wants to set international rules on the digital economy, supply chain, decarbonization and regulations imposed on workers.
President Joe Biden said tackling inflation is a priority and the framework is designed to help reduce costs by making the supply chain more resilient in the long run.
Importantly, the IPEF is not a free trade agreement. Biden faced political pressure from left and right in Washington to avoid a free trade deal.
It is also not a security alliance and is separate from the Quad defense group that includes the U.S., Japan, India and Australia, said U.S. National Security Adviser Jake Sullivan.
