New Delhi: Amid rising tension between island country Taiwan and Communist China, The US trade representative on Wednesday announced that Taiwan and the US agreed to start trade talks under a new initiative. “Both countries wanted to reach agreements with economically meaningful outcomes in another sign of stepped-up US support for the island,” a US trade representative said.
The office of the US Trade Representative said on Wednesday the two sides had “reached consensus on the negotiating mandate” and it was expected that the first round of talks will take place early this autumn.
Deputy United States Trade Representative Sarah Bianchi in a statement said, “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,”
Washington and Taipei unveiled the US-Taiwan Initiative on 21st-Century Trade in June, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan designed to counter China’s growing influence.
The negotiating mandate released along with the announcement said the United States and Taiwan have set a robust agenda for talks on issues like trade facilitation, good regulatory practices, and removing discriminatory barriers to trade.
It said the start of the formal talks would be to reach agreements with “high standard commitments and economically meaningful outcomes”.
(Vinayak)