Taiwan looks to get a trade deal with the United States after the Biden administration left the nation out of a an economic deal with 13 other Asian countries.
US, Taiwan to launch trade talks after Joe Biden excludes island from Indo-Pacific group
From timesofindia.indiatimes.com
2022-06-01 14:43:27
Excerpt:
WASHINGTON: The United States will launch new trade talks with Taiwan, US officials said on Wednesday, just days after President Joe Biden launched an economic plan for Asia intended to push back on China that excluded the Chinese-claimed island.
Washington and Taipei will “move quickly to develop a roadmap” for the planned US-Taiwan Initiative on 21st-century trade in the coming weeks, which would be followed by in-person meetings in the US capital later in June, two senior US administration officials told reporters.
The initiative would aim to “reach an agreement with high standard commitments that create inclusive and durable prosperity” on issues that include customs facilitation, fighting corruption, common standards on digital trade, labor rights, high environmental standards, and efforts to curb state-owned enterprises and non-market practices, one of the US officials said.
The bilateral initiative largely parallels the Biden administration’s Indo-Pacific Economic Framework (IPEF), an economic partnership with 13 Asian countries that he launched last week during a visit to Seoul and Tokyo. But the United States did not invite democratically self-governed Taiwan to join the IPEF talks.
Analysts had said other countries would be hesitant to join a grouping with the island for fear of angering Beijing, which regards Taiwan as its own territory. Over 200 members of the US Congress had urged Taiwan’s inclusion in IPEF.
The announcement on Taiwan talks came after a virtual meeting on Wednesday between deputy US trade representative Sarah Bianchi and Taiwan’s chief trade negotiator John Deng.
Speaking in Taipei, Deng said they hoped there would be an opportunity soon to seal a free trade deal Taiwan has long sought with the United States, adding the island was also still striving to participate in the IPEF.
The talks with Taiwan, led for Washington by the US trade representative’s office, would supplement several existing dialogues with the island, including one…
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