Indo-Pacific trade deal unlikely in uncertain 2024 US election year

The Biden administration really wants to make a big trade deal in Asia, but it's not looking too good. Experts who know about trade and business groups are saying that it's unlikely to happen. They say this is because it's election time, and some countries don't want to agree to some of the tough things in the deal.

The Biden team wanted to finish important parts of their Asia trade plan before a big meeting, but it didn't work out. They were hoping this plan would be an option for countries in the region instead of relying too much on China for trade.
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However, some countries, like Vietnam and Indonesia, didn't want to commit to strong rules about how workers are treated and protecting the environment. They also didn't want these rules to be enforced strongly. This made it hard to make a deal.

Even though the Commerce Department said they finished parts of the plan about clean energy and fighting corruption, it wasn't enough. The person in charge of trade for the U.S. said they would try again in 2024, but some people think it's going to be even more difficult.

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A person who knows a lot about trade deals from past years says it's tough now. Back in 2016, there were issues because it was an election year, and the trade deal then fell apart. Now, they are trying to stay positive, but it seems like the countries they want to make deals with are not too hopeful about getting things done in an election year.

Some people in the U.S. don't want the trade deal to lower its standards just to make it happen. The Biden team tried to avoid problems by making the trade deal less ambitious, but it didn't help much. Some groups that represent big U.S. companies in trade issues say that everyone is doubtful about the trade plan because it doesn't aim high enough.

Trade deals usually take a long time to work out, even the small ones. The Biden team started talking about this in September 2022, and experts say that's not enough time to get it done before the big meeting. Some say it was a mistake to try to do the whole trade deal in such a short time.

Interestingly, during the big meeting, 12 countries that are part of a different trade deal (the CPTPP) met and said they want more countries to join them. Even China's president talked about joining that group. So, while the U.S. is having trouble with their trade plan, other countries are moving forward with their own deals. We kindly request you to disseminate this news and provide your insights in the comments section. Thank you

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