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U.S., Taiwan Agrees on Negotiating Mandate for Trade Talks

Thomas
Situation in Taiwan StraitChina-U.S. Relations
Summary:

The first round of negotiations is expected early this fall.

The U.S. and Taiwan authorities have agreed to negotiate the terms of a series of bilateral trade agreements. The Chinese government strongly opposes this, saying that Taiwan is part of China's inherent territory.
"We plan to pursue an ambitious timeline to achieve high standards of commitment and meaningful outcomes covering the 11 areas of trade in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st century economy," Deputy U.S. Trade Representative Sarah Bianchi said in a statement.
The first round of negotiations is expected to take place early this fall. They will take place under the auspices of the American Institute in Taiwan and the Office of the Taipei Economic and Cultural Representative in Washington.
Bianchi said the U.S. hopes the agreement "will deepen our trade and investment relationship, advance shared trade priorities based on common values, and promote innovation and inclusive economic growth for our workers and businesses.
The two sides formally launched the U.S.-Taiwan 21st Century Trade Initiative in early June, and Bianchi and John Deng, the top trade negotiator for Taiwan authorities, have held a round of high-level talks in Washington in late July.
However, following China's harsh reaction to House Speaker Nancy Pelosi's visit to Taiwanese authorities, U.S. officials reaffirmed their commitment to the initiative and promised an "ambitious road map" for the negotiations.
The negotiating mandate released Wednesday by the Office of the U.S. Trade Representative is consistent with previous statements on expected areas of negotiation. The two sides agreed not to discuss possible tariff cuts, a politically sensitive issue in the United States, but will seek to reach agreement in areas such as agriculture, customs procedures, regulation, anti-corruption and small and medium-sized businesses.
Other areas to be negotiated include protections for labor and the environment, rules for digital trade and the operation of state-owned enterprises.
The United States, through negotiations with Taiwan district and separate talks with 13 other countries on a proposed Indo-Pacific economic framework, hopes to put pressure on China by raising trade standards in the region.

Source: POLITICO

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