Biden says recession not inevitable as he prepares Asia trade pact

US President Joe Biden has promised ‘concrete benefits’ for the people of the Indo-Pacific region from a new trade pact (David Mareuil/Pool Photo via AP)

President Joe Biden has promised “concrete benefits” will emerge from a new Indo-Pacific trade framework he is launching even as he warned Americans worried about high inflation that it was “going to be a haul” before they feel relief.

Mr Biden, speaking at a news conference after holding talks with Japan’s Prime Minister Fumio Kishida, acknowledged the US economy has “problems” but said they were “less consequential than the rest of the world has”.