The United States President is expected to launch the Indo-Pacific Economic Framework (IPEF).<\/span><\/p>\n In October 2021, the US administration<\/span> announced the development of an Indo-Pacific Economic Framework(IPEF).<\/span><\/p>\n Pillars:<\/b> The IPEF is built on four modules: <\/span>1)<\/b> fair and resilient trade (including digital, labour, environmental and other standards), <\/span>2)<\/b> supply chain resilience, <\/span>3)<\/b> infrastructure, decarbonisation and clean energy and <\/span>4)<\/b> tax and anti-corruption.<\/span><\/p>\n Countries would have to sign up for all of the components <\/b>within a module but do not have to participate in all modules.<\/span><\/p>\n However, <\/span>IPEF will not include market access commitments <\/b>such as lowering tariff barriers, as the agreement is more of an Administrative arrangement.<\/span><\/p>\n IPEF is seen as a means by which the US is trying to regain credibility in the region after former US President Donald Trump pulled out of the Trans-Pacific Partnership(TPP).\u00a0<\/span><\/p>\n Since then, there has been concern over the absence of a credible US economic and trade strategy to counter China\u2019s economic influence in the region.<\/span><\/p>\n Will India be joining the IPEF?<\/b><\/p>\n India is currently examining the framework.<\/span><\/p>\n However, some experts have said that some areas proposed in the IPEF do not appear to serve India\u2019s interests.\u00a0<\/span><\/p>\n For example<\/b>, the IPEF talks about digital governance but the IPEF formulation contains issues that directly conflict with India\u2019s stated position. Amongst these are the prohibition\/restrictions <\/span>on cross-border data flows and data localization requirements including for financial services; promotion of the interoperability of privacy rules among others.<\/span><\/p>\n Source: <\/b>The post is based on the article<\/span> \u201cExplained: What is the Indo-Pacific Economic Framework?\u201d <\/b>published in <\/span>Indian Express <\/b>on 20th May 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The United States President is expected to launch the Indo-Pacific Economic Framework (IPEF). What is the Indo-Pacific Economic Framework (IPEF)? In October 2021, the US administration announced the development of an Indo-Pacific Economic Framework(IPEF). Pillars: The IPEF is built on four modules: 1) fair and resilient trade (including digital, labour, environmental… Continue reading Explained: What is the Indo-Pacific Economic Framework?<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,1236,9],"tags":[10500],"class_list":["post-185763","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-international-organisations","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700637546},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/185763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=185763"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/185763\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=185763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=185763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=185763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is the Indo-Pacific Economic Framework (IPEF)?<\/b><\/h5>\n
Why is the US planning to launch this framework?<\/b><\/h5>\n