The United States and Taiwan will formally begin trade talks. The US and Taiwan have agreed to begin trade talks under a new initiative, saying they want to reach agreements with “economically meaningful outcomes,” in yet another sign of the US’s increased support for the island.
The US-Taiwan Initiative on 21st-Century Trade was launched in June, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan aimed at countering China’s growing influence.
According to the US Trade Representative’s office, the two sides have “reached consensus on the negotiating mandate,” and the first round of talks is expected to take place early this autumn.
“We intend to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes across the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous, and resilient 21st-century economy,” said Sarah Bianchi, Deputy United States Trade Representative.
According to the negotiating mandate released alongside the announcement, the US and Taiwan have set a robust agenda for talks on issues such as trade facilitation, good regulatory practices, and removing discriminatory trade barriers.
The formal talks would begin with the goal of reaching agreements with “high standard commitments and economically meaningful outcomes,” according to the statement.
However, it did not mention the possibility of a broad free trade deal, which is something Taiwan has been pressing for.
Despite the lack of formal diplomatic ties, Washington has been eager to boost support for Taiwan, particularly as it faces increased political pressure from China to accept its sovereignty claims.
