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The White House is drafting proposals for a digital trade agreement with Pacific Rim nations that would aim to counter China’s regional influence, Bloomberg News reported late Monday.
Details are slight, but Bloomberg reported the deal could set digital standards for trade, including the use of data and electronic customs arrangements. Nations including Canada, Chile, Australia, Japan and Singapore could be included in the deal.
It would also give the Biden administration an opportunity to lay out its own trade plan, rather than enforce existing deals put in place by the Trump administration, and reassert the U.S. role in Pacific Rim trade, after the Trump administration spurned the Trans-Pacific Partnership in 2017.
