US News: Biden advocated America's stable China relations in APEC, said big thing on Pacific trade agreement

US President Joe Biden said on Thursday that he will continue to work to advance the Pacific trade agreement. In fact, Joe Biden attended the summit of the 21-member Asia Pacific Economic Cooperation (APEC) Forum. Here he told the corporate CEO in San Francisco that our work is not done yet.

"We will continue to work to better facilitate trade while advancing workers' rights through stronger enforcement of labor standards," Biden said. Biden was also to participate in an event on Thursday of the Indo-Pacific Economic Framework (IPEF), a group of 14 countries established by his administration. However, there has been no progress this week on the IPEF trade agreement.

Deputy US Trade Representative Sarah Bianchi told Reuters news agency on Thursday that the US and its Indo-Pacific partners need to restart their trade pillar talks early next year. He said most negotiations take years, but the White House wants to work within the deadline as quickly as possible.

US Commerce Secretary Gina Raimondo said on Thursday that IPEF countries have agreed on several pillars of the trade initiative. This also includes cooperation on clean energy and anti-corruption measures. Trade ministers of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership countries welcomed more members to the bloc on Wednesday.

APEC members are closely watching developments between the world's two largest economies and strategic rivals, the US and China. They worry that more intense competition could upset global trade and security. Biden held a high-level summit with Chinese President Xi Jinping on Wednesday aimed at stabilizing strained ties.

He said that a stable relationship between the US and China was good for the world. Biden said the United States is not separating its economy from China but is reducing risks and diversifying.