Biden budget plan: $50 million to ‘advance’ IPEF, billions more to compete with China

The Biden administration’s fiscal year 2024 budget request includes $50 million to “advance” the Indo-Pacific Economic Framework for Prosperity and billions more to “out-compete China,” the White House said on Thursday. In an overview of the request , the White House touted IPEF in the context of a broad goal to “deepen” alliances and partnerships in the Indo-Pacific region. More details on the budget plan will be released next week. “The Budget includes more than $2.3 billion in discretionary funding...