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U.S. President Joe Biden will launch a long-awaited economic initiative for increasing American involvement in Asia in the coming days during his trip to the region, according to one of the Cabinet officials leading the initiative.

The United States and its partners will kick off the Indo-Pacific Economic Framework (IPEF) when Biden visits Japan on a trip from Friday to Tuesday that also will take him to South Korea, Commerce Secretary Gina Raimondo said.

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