in

US and Taiwan begin formal talks over new trade initiative that will anger China

In further evidence of increased US support for the island, the United States and Taiwan agreed on Wednesday to begin trade talks in a new initiative that is sure to anger China. . Both sides said they intended to negotiate deals with “economically meaningful results”.

In June, just days after the Biden administration removed the Chinese-claimed island from its Asia-focused economic strategy intended to challenge China’s growing influence, Washington and Taipei introduced the U.S. initiative. -Taiwanese on 21st century trade. The first round of negotiations is expected to begin in early fall, according to the US Trade Representative’s office, which said the two sides had “reached consensus on the negotiating mandate”.

U.S. Deputy Trade Representative Sarah Bianchi said in a statement, “We plan to pursue an ambitious timeline to achieve high-level commitments and meaningful results covering all eleven trade areas of the negotiating mandate that will help build a fairer, more prosperous and more resilient 21st century economy.”

Read also: IN PHOTOS| “We are heartbroken, we are exhausted”: France fights a “monstrous forest fire”

The United States and Taiwan have established a strong agenda for discussions on topics including trade facilitation, strong regulatory standards and the removal of discriminatory trade barriers, according to the negotiating mandate released with the statement. Formal negotiations will begin with the aim of reaching agreements with “high-level commitments and economically meaningful results”, it said.

He made no mention of the potential for a comprehensive free trade agreement, which Taiwan has urged. Washington has rushed to increase aid to Taiwan despite the lack of formal diplomatic ties, especially as it comes under increased political pressure from China to recognize its sovereignty claims.

(with agency contributions)

.
#Taiwan #formal #talks #trade #initiative #anger #China

Post expires at 11:11am on Saturday August 27th, 2022