In
a teleconference call during a visit to Malaysia, Raimondo said
discussions on the framework are in preliminary stages, but
could involve several key areas including the digital economy,
supply chain resiliency, infrastructure, export control, and
clean energy.
"We absolutely do not envision this to be a traditional trade
agreement, absolutely do not envision it to require Congress to
be involved," she said, adding that the U.S. will develop the
framework with allies in the months to come.
On Wednesday, Raimondo said an Indo-Pacific economic framework
could be launched at the start of next year https://www.reuters.com/world/asia-pacific/us-commerce-chief-sees-indo-pacific-economic-framework-early-next-year-2021-11-17,
and her Asia visit was to lay the groundwork for potential
partnerships.
Critics of U.S. strategy for the region have pointed to its lack
of an economic component after former President Donald Trump
withdrew in 2017 from a U.S.-inspired trade deal, now known as
the Comprehensive and Progressive Agreement for Trans-Pacific
Partnership.
Earlier on Thursday, the U.S. and Malaysia said in a joint
statement that both countries plan to sign an agreement by early
2022 towards improving transparency, resilience and security in
the semiconductor and manufacturing sector supply chains.
The agreement comes as Malaysia seeks to tackle a shortage in
semiconductor chips after supplies were disrupted due to curbs
imposed to stem a surge in COVID-19 cases this year.
Malaysia's chip assembly industry, accounting for more than a
tenth of a global trade worth over $20 billion, has warned that
shortages will last at least two years.
Raimondo said both governments had a broad ranging discussion
with the semiconductor industry on Thursday, including to cut
out redundancy in investments and to boost supplies.
(Reporting by Liz Lee and Rozanna Latiff; Editing by Martin
Petty and John Geddie)
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