The US needs to do more in the Asia-Pacific region and New Zealand's Prime Minister Jacinda Ardern should be pushing US President Joe Biden harder, a major US business leader says.
Photo: Riccardo Savi / GETTY IMAGES NORTH AMERICA / Getty Images via AFP
The powerful US Chamber of Commerce's executive vice president and head Myron Brilliant said it had been a mistake for the Trump administration to pull out of the CPTPP trade deal, and for the Biden administration not to look at it.
Brilliant spoke to New Zealand media after Ardern presented at an event in New York co-hosted by the Chamber and BlackRock, the world's largest investment firm.
The US Chamber of Commerce is the largest lobbying group in the US and the largest business association in the world, representing over three million businesses and organisations.
"Levelling the playing field, creating the high standards, that's why IPEF can be important," Brilliant said.
"Let's be clear, it's a second child to CPTPP, but we need to at least advance our presence in the region in a very significant way and I'd rather us sit in through IPEF and begin serious engagement with the countries across the region than sit out ... I'd rather be in CPTPP, but I don't have that choice right now."
The US needed to "show up, first of all" if it was going to limit China's influence, confront its market behaviour and human rights record, and safeguard smaller countries like New Zealand from the effects of that economic conflict.
"China and the United States are two major global players. There's no way to deal with climate challenges, sustainability, preparing for the next pandemic if we ever have another one, dealing with the range of issues that we have in today's global community without China and the United States talking face to face."
The US could not ignore other the countries in the region, however, and Ardern could play a role in encouraging that, he said.
"She should absolutely be encouraging our president of the United States to recognise what countries like New Zealand and Australia and Singapore and Japan are telling our president, which is that the United States needs to be in the region.
"The United States presence needs to be there - not just as a counterweight to China but advancing the US ... political, geostrategic and economic interests in the most dynamic and vibrant region in the world."
He said Ardern's visit was well timed and - considering the 17-hour flight - showed her seriousness of purpose. The two countries had an opportunity to work closer together.
"I'd love to see us do more in terms of advancing tourism, more partnership around technology, I'd love to see progress made on areas like health and digital health.
Honor to co-host #NewZealand PM @jacindaardern & a delegation of NZ businesses w/ @BlackRock. Had a timely discussion on the importance of #IndoPacific region, need for stronger US engagement & key issues like #IPEF, trade, sustainability, China & strengthening ecn ties. pic.twitter.com/cfIQuLSv05
— Myron Brilliant (@MyronBrilliant) May 24, 2022
"Certainly the delegation of business leaders that the prime minister brought illustrate the potential of this relationship in many ways and it was impressive, the CEOs that are joining her for this trip to the United States."
Brilliant batted away questions over BlackRock's continued investment in fossil fuels, saying there were many ways to contribute to emissions reduction.
"We've got to move more rapidly on energy transition ... but we also have to look at transition energies," he said.
He said financing and bonds to help back climate projects, bring down costs and improve efficiency could help - and governments could play a role in that - but "to drive real change it has to be through public-private partnership".
"What we're hoping is that the US government and governments around the world draw out innovation from the private sector. If we're going to meet these net zero carbon emission tasks, if we're going to reduce the carbon footprint it's not going to be done just from government policy it's going to be the innovation from the private sector that drives it."
