Insights

Beginning on February 8, the members of the Indo-Pacific Economic Framework (IPEF), the Biden-Harris Administration’s signature economic initiative in the Asia-Pacific, held the next framework negotiating round. This round advanced the arrangement’s supply chains, clean economy, and fair economy pillars and continued to build on the negotiating text that was tabled at the last negotiating round. Notably, it did not include negotiations on the trade pillar, of which India is not a member. The Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit, which will be held in San Francisco in late 2023 has been cited as a tentative target date by which the parties hope to conclude the negotiations.