US, Taiwan start formal trade talks under new initiative According to Reuters

© Reuters. FILE PHOTO: The Taiwanese flag flutters during a welcome ceremony for Saint Vincent and Prime Minister of the Grenadines Ralph Gonsalves (not pictured) outside the presidential palace in Taipei, Taiwan August 8, 2022. REUTERS / Ann Wang

TAIPEI (Reuters) – The United States and Taiwan on Wednesday agreed to start trade talks under a new initiative, saying they want to strike deals with “economically meaningful outcomes.” “, another sign of US support for the island.

Washington and Taipei announced the US-Taiwan Initiative on 21st Century Trade in June, just days after the Biden administration removed the Chinese-claimed island from a centralized economic plan. into Asia to counter China’s growing influence.

The US Trade Representative’s office said the two sides had “agreed on the mandate for negotiations” and expected the first round of negotiations to take place in early autumn this year.

“We plan to pursue an ambitious schedule of high-standard commitments and meaningful outcomes covering 11 trade areas in the negotiating mandate that will help build a strong economy,” he said. the 21st century is fairer, more prosperous and more flexible,” said Deputy US Trade Representative Sarah Bianchi in a statement.

The negotiating mandate was published with the announcement that the United States and Taiwan had set a strong agenda for talks on issues such as trade facilitation, good governance practices, and trade facilitation. and remove discriminatory barriers to trade.

It said the start of formal negotiations would aim to reach agreements with “high standard commitments and economically meaningful outcomes”.

It did not mention the possibility of a broad free-trade agreement, which Taiwan is urging.

Washington, despite its lack of formal diplomatic ties, still wants to increase support for Taiwan, especially as it faces political pressure from China to accept its claims. me.

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