ISDS Case Map
US
India opted out of trade talks with a US-led group of Asian nations, again avoiding easing access to its markets via a multi-country deal, while moving ahead with the others in areas including supply chains and clean energy.
India New Delhi has decided to become part of resilient economy, clean economy, and fair economy components of the framework, but it will not join the connected economy (trade) pillar of IPEF.
Official negotiations on the Indo-Pacific Economic Framework are set to start in Los Angeles, when US Trade Representative and US Commerce Secretary sit down with their counterparts from 13 other participating countries.
The need for another trade agreement in Asia-Pacific has not been established. If countries choose to move forward with Indo-Pacific Economic Framework talks, they must be based on a new model that prioritizes the interests of people instead of just big corporations.
India and the US are ready to be more engaged in the Indo-Pacific economic framework, which will help create more resilient supply chains and partnerships between businesses in the two countries.
The IPEF is the US’s latest strategy to be the global rule-maker on trade, food production, digital and data, the climate crisis, regulating services, corporate power to influence new laws, multinationals’ tax rates, and much else.
This week Trade Ministers from eleven countries will meet with the view to launch negotiations for an Indo-Pacific economic agreement.
The US will host the first in-person IPEF Ministerial meeting in Los Angeles from 8-9 September 2022, which is expected to launch formal negotiations. Some countries may decide not to remain involved in some or all of the IPEF’s “pillars”.
South Korea plans to seek annulment of an international tribunal’s verdict to compensate Lone Star Funds in a decade long investor-to-state dispute arbitration.
An international tribunal ordered South Korea to pay the US private equity firm Lone Star Funds US$216.5 million, bringing an end to a decade long legal battle surrounding its sell-off of a local bank.
