USTR’s Peisch: IPEF to have ‘incentives and opportunities’ rather than tariff cuts

The Office of the U.S. Trade Representative is well aware that the U.S. must provide some benefits for those partners participating in the newly launched Indo-Pacific Economic Framework, the agency’s general counsel, Greta Peisch, said on Wednesday, but rather than traditional market access – in the form of tariff liberalization – those benefits will come as “incentives and opportunities.” The IPEF was formally launched on Monday with 13 participants while President Biden, USTR Katherine Tai and Commerce Secretary Gina Raimondo...