The United States and Taiwan have agreed to start trade negotiations as part of a new initiative to negotiate deals with “economically substantial outcomes.” China’s “economic coercion,” according to a Taiwanese official, will also be discussed at the negotiations.
The US-Taiwan Initiative on 21st-Century Trade was unveiled in June, only days after the Biden administration dropped the Chinese-claimed island from its Asia-focused economic plan designed to counteract China’s growing influence.
The first round of negotiations is anticipated to begin early this fall, according to the US Trade Representative’s office, which stated that the two parties had “reached consensus on the negotiating mandate.”
In the eleven trade areas covered by the negotiating mandate, “We want to pursue an aggressive agenda for attaining high-standard pledges and meaningful accomplishments that will help construct a fairer, more prosperous, and resilient 21st-century economy.”
