Grassley on IPEF as Substitute for CPTPP: “Better Than Nothing”

Iowa Senator Chuck Grassley (R) sees the Biden Indo Pacific Economic Framework as a poor substitute for the US reentering TPP, now the Comprehensive and Progressive Transpacific Partnership.

“I think it’s better than nothing, but not much better than nothing.”

Grassley argues the Biden team doesn’t want to get back into TPP that President Trump pulled out of, and sees the Indo Pacific Economic Framework as a substitute. “I’m glad that they’re trying to make up for some of the lost ground, but, I don’t think, and I think it’s sad, particularly for agriculture because the prosperity of agriculture depends upon exports. I’m just a little sorry. Well, I’m mad that they aren’t being more aggressive in negotiating free trade agreements.”

Bottom line according to Grassley is; “And the answer is, no, it’s not effective as being in TPP.”

Japan and others in the Biden Framework complain it lacks commitments on market access, namely reducing tariffs. The Framework also leaves out key U.S. trading partner in Ag and semiconductors, Taiwan, for fear of offending China.

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