[3][4] Following his election in 2016 and subsequent inauguration, then-President Donald Trump issued an executive order pulling the United States out of the TPP, which had not been ratified by Congress.

[6] Prior to the launch of the IPEF, critics argued that the U.S. was engaged in an “all guns and no butter” strategy, in which defense was emphasized over regional economic policy.

[8][9] According to the Financial Times, countries in the region urged the Biden administration to develop an international economic policy framework to combat China's influence.

Secretary of Commerce Gina Raimondo argued that the framework constituted "the most significant international economic engagement that the United States has ever had in this region".

[12] The pact has been described as being "hollow", "meaningless" or "useless" by some commentators, including US industry groups, due to its lack of tangible policy actions such as lowering tariffs.

The agreement includes measures on developing and deploying clean energy and climate-friendly technologies, facilitating investment towards climate-related projects in the region, connecting markets through policies and standards, and promoting low-and zero-emission goods and services.

[18] The Biden administration had intended to conclude the negotiations during the Asia-Pacific Economic Cooperation forum, but reversed course following opposition from Democratic members of Congress including Sherrod Brown.

[29] An opinion piece published in The Hill asserted that Taiwan was excluded in order to appease key "fence-sitter" countries such as Indonesia whose governments feared angering China.

[32] Prabir De of the Research and Information System for Developing Countries, a think tank associated with the Ministry of External Affairs, wrote that India may be uncomfortable with the high economic standards envisaged by the US.

[33] In March 2022, a bipartisan coalition of over 200 members of the United States Congress wrote a letter to Secretary of Commerce Gina Raimondo and Trade Representative Katherine Tai urging the inclusion of Taiwan in the IPEF.