US, Taiwan to begin trade talks

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Washington and Taipei had unveiled the US-Taiwan Initiative on 21st-Century Trade in June…reports Asian Lite News

The US and Taiwan have announced trade talks will officially launch after both sides agreed on a mandate.

Both sides had set out the broad objectives for trade talks aiming to “deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses”, Deputy US trade representative Sarah Bianchi said in a statement late Wednesday.

Taiwan’s Office of Trade Negotiations also announced the launch of formal talks on Thursday , saying they are aiming for negotiations to attract more US and overseas investment and pave the way for the island to join international trade blocs such as the Japan-led Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), reports dpa news agency.

Tariffs will not be discussed, Taiwan’s trade office said.

Trade negotiations are expected to start in early autumn, the US Trade Representative’s office announced.

Taiwan’s state-run Central News Agency reported the same time frame.

Washington and Taipei had unveiled the US-Taiwan Initiative on 21st-Century Trade in June.

The latest announcement on the talks comes after the August 2 visit by US House Speaker Nancy Pelosi to Taiwan drew China’s ire.

Beijing started large-scale military manoeuvres around Taiwan in response.

After a delegation of US lawmakers travelled to Taiwan a few days ago, Beijing spoke of a new “provocation” from the US and announced further manoeuvres.

Taiwan has had an independent government since 1949, but China considers the island part of its territory.

Beijing rejects official contacts between other countries and Taipei.

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