As global powers compete for influence, the Indo-Pacific Economic Framework for Prosperity (IPEF) has emerged as the United States’ strategic response to deepening economic ties in Asia. This article explores IPEF’s four-pillar structure—Trade, Supply Chains, Clean Economy, and Fair Economy—and its implications for Thailand. With no market access commitments, the modular framework offers flexibility—but also presents both opportunities and risks. How should Thailand position itself between U.S.-led and China-led initiatives? This analysis offers key insights and policy recommendations for a balanced and strategic approach.