Tai: IPEF dispute settlement part of ongoing evolution, likely to include penalties

Any dispute settlement mechanism built into the Indo-Pacific Economic Framework will be part of an evolution away from “traditional” models, U.S. Trade Representative Katherine Tai said on Monday, arguing that the U.S.’ goal is to create a mechanism that protects the “integrity” of the agreement without becoming simply a “forum for us to fight each other.” Speaking during a Washington International Trade Association event , Tai acknowledged that any dispute settlement system in the IPEF is likely to impose penalties,...