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U.S. plans new trade pact with ‘like-minded partners,’ says senior official

Published by Wanda Rich

Posted on June 8, 2022

1 min read

· Last updated: February 6, 2026

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U.S. President Joe Biden speaking at a trade conference highlighting new trade pact initiatives - Global Banking & Finance Review
Image of U.S. President Joe Biden addressing the North America’s Building Trades Unions, emphasizing a new trade pact aimed at strengthening economic ties with like-minded partners in the Americas amidst competitive goals against China.
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WASHINGTON (Reuters) – The Biden administration will press its competitive goals against China with the launch of a new trade pact in the Americas focused on “like-minded partners” with existing free trade agreements, a senior Biden administration official said on Wednesday. Washington, which has trade deals with Canada and Mexico, will use its new Americas […]

WASHINGTON (Reuters) – The Biden administration will press its competitive goals against China with the launch of a new trade pact in the Americas focused on “like-minded partners” with existing free trade agreements, a senior Biden administration official said on Wednesday.

Washington, which has trade deals with Canada and Mexico, will use its new Americas Partnership for Economic Prosperity to develop new customs, digital trade, labor, environmental and corporate accountability standards despite a lack of any new tariff relief for participating countries. It aims to launch negotiations in early fall, the official said.

(Reporting by Trevor Hunnicutt; Editing by Tim Ahmann)

Frequently Asked Questions

What is corporate accountability?
Corporate accountability refers to the responsibility of companies to adhere to laws and ethical standards, ensuring transparency and integrity in their operations and dealings with stakeholders.
What is digital trade?
Digital trade involves the buying and selling of goods and services through electronic means, including online platforms and e-commerce, facilitating global commerce and economic growth.

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