The first formal negotiating round in the Indo-Pacific Economic Framework for Prosperity (IPEF) took place 10-15 December 2022 in Brisbane, Australia, and the next round is scheduled for 8-11 February 2023 in India. While the Biden Administration has launched a similar trade and economic initiative in the Americas and a bilateral effort with Taiwan, the IPEF is this US Administration’s first major trade-related initiative. Its provisions are likely to serve as a blueprint for other trade negotiations, particularly in the context of the development of a new enforcement mechanism. This article addresses key aspects of existing dispute settlement mechanisms and how the IPEF will most likely serve as the blueprint not just in substantive commitments but also procedural enforceability, including whether the commitments are in fact binding and enforceable.
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Authored by Kelly Ann Shaw, Michael Jacobson, and Maria A. Arboleda.