Biden, 13 Leaders, Sign Indo-Pacific Economic Framework

US President Joe Biden offers a toast at the heads of delegation dinner at the Asia-Pacific Economic Cooperation summit, Nov. 16, 2023, at the Legion of Honor Museum in San Francisco. US President Joe Biden speaks at the Asia-Pacific Economic Cooperation summit, Nov. 16, 2023, in San Francisco.

U.S. President Joe Biden Thursday hailed a new economic agreement among 14 Asia Pacific countries aimed at countering China’s regional economic dominance, saying the deal leaders signed at a summit of regional economies – which is not a formal trade agreement – will address key issues such as future semiconductor shortages by improving supply chain resilience.