Correct Answer: B Notes: Statement 1: The statement is incorre | Tirumal Classes IAS Academy

Correct Answer: B
Notes:
Statement 1: The statement is incorrect. The US has said that the IPEF is not a Free Trade Agreement (FTA) like the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Transpacific Partnership (CPTPP). It has not involved, nor has it promised to involve in the future, negotiations to remove tariffs or increase market access. Statement 2: The Indo-Pacific Economic Framework (IPEF) was launched by United States (US) President Biden in Tokyo on May 23, 2022. The IPEF has four pillars: Trade; supply chains; clean energy, decarbonisation and infrastructure; tax and anti-corruption.