U.S. announces Asia Economic Deal in effort to boost profile, counter China

(Tokyo) -- The U.S. is trying to boost its economic profile in Asia where China is the most dominant.

The U.S. announced on Monday the Indo-Pacific Economic Framework with Asian partners including Australia, Japan, and the Republic of Korea. They're aiming to set international rules on the digital economy, supply chains and regulation applying to workers.

President Biden said this would help lower costs by making supply chains more resilient the long run.