As part of a new initiative, the United States and Taiwan will begin formal trade talks

As part of a new initiative, the United States and Taiwan will begin formal trade talks

Updated on August 18, 2022 17:54 PM by Ella Bina

According to news reports, the United States and Taiwan have agreed to begin trade talks under a new initiative, saying that they want to reach agreements with "economically meaningful outcomes," another sign that the United States has enhanced support for Taiwan. As part of their strategy to counter China's growing influence, Washington and Taipei launched the U.S.-Taiwan Initiative for 21st-Century Trade in June, just days after the Biden administration exempted the Chinese-claimed island from its Asia-focused economic plan designed to counter China's rising influence. 

During the summer of 2013, the office of the U.S. Trade Representative announced that the two sides had "reached agreement on the negotiating mandate" and it was expected that the first round of talks will be held early in the autumn. As part of our ambitious timeline for achieving high-standard commitments and meaningful outcomes in the eleven trade areas covered by the negotiating mandate, Deputy United States Trade Representative Sarah Bianchi said in a statement that the goal is to build a fairer, more prosperous, and resilient 21st-century economy.

Also Read: Chinese miscalculation could result in pressure on Taiwan, the U.S. warns

According to the negotiating mandate released with the announcement, the United States and Taiwan will talk about trade facilitation, improved regulatory practices, and eliminating trade barriers. According to the document, formal talks would begin with the aim of reaching agreements with "high standards of commitments and economically meaningful outcomes." The document did not mention the possibility of a broad free trade agreement, which is something Taiwan has been pushing for a long time.

As Taiwan faces increased political pressure from China to accept its sovereignty claims, the United States has been keen to bolster support for Taiwan, despite the absence of formal diplomatic ties between the two countries.

add Block

What's New : World