Deals reached on more pillars of U.S.-led IPEF economic initiative

A U.S.-led economic initiative for the Indo-Pacific region came a step closer to completion on Thursday as the 14 negotiating nations agreed on two of three remaining pillars, allowing their leaders to showcase a framework seen as a counter to China’s rise.

The participating countries called the agreement on the two areas -- fairness and clean energy economies -- “substantive conclusions” supporting the Indo-Pacific Economic Framework spearheaded by U.S. President Joe Biden. They will create a minister-level body to check the progress annually.

The partners of what is known as IPEF have achiev...