Consider the following statements regarding  Indo-Pacific Economic Framework for Prosperity (IPEF):

1. It is a US-led economic initiative similar to a free trade agreement.

2. Trade, Supply chain, Clean economy, and Fair economy are the four pillars of IPEF.

Which of the above is/are correct?

1
1 only
2
2 only
3
Both 1 and 2 
4
Neither 1 nor 2

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