In another evidence of increased U.S. backing for the island, the United States and Taiwan on Wednesday agreed to begin trade negotiations under a new initiative. They stated that they intended to negotiate accords with “economically meaningful outcomes.”
In June, just days after the Biden administration removed the Chinese-claimed island from its Asia-focused economic strategy intended to challenge China’s expanding influence, Washington and Taipei presented the U.S.-Taiwan Initiative on 21st-Century Trade. The first round of negotiations is anticipated to begin early this fall, according to the office of the U.S. Trade Representative, which stated that the two parties had “reached consensus on the negotiating mandate.”
Deputy United States Trade Representative Sarah Bianchi said in a statement, “We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st-century economy.”
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The United States and Taiwan have established a robust agenda for discussions on topics like trade facilitation, sound regulatory standards, and removing discriminatory trade obstacles, according to the negotiating mandate released along with the statement. The formal negotiations will begin with the goal of coming to agreements with “high standard commitments and economically meaningful outcomes,” it was stated.
It made no mention of the potential for a comprehensive free trade agreement, which Taiwan has been urging for. Washington has been eager to increase assistance for Taiwan despite the absence of formal diplomatic connections, particularly as it comes under increased political pressure from China to recognise its sovereignty claims.
(with inputs from agencies)
