Biden launches Indo-Pacific trade deal, warns over inflation

TOKYO (AP) — President Joe Biden has launched a new trade deal with 12 Indo-Pacific nations aimed at strengthening their economies as he warns Americans worried about high inflation that it is “going to be a haul” before they feel relief. The president says he does not believe an economic recession is inevitable in the U.S. Biden spoke at a news conference in Toyko after holding talks with Japan’s Prime Minister Fumio Kishida. He acknowledged the U.S. economy has “problems” but said they were “less consequential than the rest of the world has.” He added: “This is going to be a haul. This is going to take some time.”