Feb 16, 2022

Indo-Pacific Strategy to Counter China's Influence

Biden's Indo-Pacific Strategy vows to modernize alliances, strengthen emerging partnerships and invest in regional organizations

The U.S. vowed last week to commit more diplomatic and security resources to theIndo-Pacific regionto push back against what its sees as China's bid to create a regional sphere of influence and become the world's most influential power, reportsReuters.

In a12-page strategy overview, the Biden administration said it would focus on every corner of the region from South Asia to the Pacific Islands to strengthen its long-term position and commitment.

Release of the document last week coincided with a visit to the Indo-Pacific by U.S. Secretary of State Antony Blinken intended to emphasize the priority the U.S. attaches to the region. It also comes after China and Russia declared last week a "no limits" strategic partnership to work together and against the U.S.

In the document, the U.S. vowed to modernize alliances, strengthen emerging partnerships and invest in regional organizations.

According to American Farm Bureau Federation (AFBF) President Zippy Duvall, the Indo-Pacific region is a critical part of the world for U.S. agriculture.

Duvall says AFBF appreciates the Biden administration’s approach to engage with the region and is encouraged by the economic framework laid out in the Indo-Pacific Strategy.

"It will remove barriers for American agricultural exports and strengthen relationships with our neighbors from the Pacific coast to the Indian Ocean for everyone’s benefit," says Duvall.

“That said, a framework isn’t enough," he continues. "More trade advances are needed in the region, and soon."

Duvall notes the U.S. is long overdue for a binding multilateral trade agreement with the Indo-Pacific that outlines consistent standards and improves market access through the reduction of tariffs.

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Marketwatch: Feb, 16

US Corn Price Idx:ZCPAUS.CM

open: 6.2869
high: 6.3005
low: 6.194
close: 6.2152

US Soybean Price Idx:ZSPAUS.CM

open: 15.0511
high: 15.1976
low: 14.9667
close: 15.0524

US Hard Red Winter Wheat Price Idx:KEPAUS.CM

open: 7.8954
high: 7.9166
low: 7.7641
close: 7.8532

US Soft Red Winter Wheat Price Idx:ZWPAUS.CM

open: 7.4531
high: 7.4877
low: 7.3677
close: 7.4323