WASHINGTON: The United States and Taiwan have announced trade discussion will officially launch after both sides agreed on a mandate.
Deputy US trade representative Sarah Bianchi said in a statement late Wednesday that both parties had outlined the general goals for trade negotiations, 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."
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is led by Japan, is one of the international trade blocs that Taiwan's Office of Trade Negotiations said it plans to join. Taiwan's Office of Trade Negotiations also announced the beginning of formal talks on Thursday, according to reports. Taiwan's trade agency stated that tariffs will not be addressed.
Early October is when trade negotiations are anticipated to begin, according to the office of the US Trade Representative. Taiwan's state-run Central News Agency reported the same time frame.
The US-Taiwan Initiative on 21st-Century Trade was presented by Washington and Taipei in June. The latest update on the negotiations follows China's criticism of Nancy Pelosi's travel to Taiwan on August 2.
In response, Beijing began extensive military exercises near Taiwan.A few days after a delegation of US congressmen visited Taiwan, Beijing spoke of a fresh "provocation" by the US and revealed new manoeuvres. Although Taiwan has had an independent government since 1949, China still regards the island as being on its soil. Beijing disapproves of official communications between Taipei and other nations.
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