The U.S. administration announced that it would start official talks with Taiwan as part of the new trade initiative.
The U.S. Trade Representative (USTR) said in a statement that the United States and Taiwan had reached an agreement on negotiating authority under the “US-Taiwan Initiative on 21st Century Trade”.
The first round of negotiations is expected to occur at the beginning of this autumn. It was reported that he set a solid schedule.
The statement noted that disruptive practices of state-owned enterprises and non-market policies and procedures were also on the agenda.
In the statement of USTR, it was stated that the USA would continue to consult with Congress and workers, the business world, environmental groups, and other key stakeholders throughout the negotiations.
Sarah Bianchi, US Deputy Trade Representative, said in the statement that they would begin negotiations with Taiwan to deepen trade and investment relations, develop mutual trade priorities based on shared values, and foster innovation and inclusive economic growth for employees and businesses.
“We plan to pursue an ambitious program to deliver high-standard commitments and meaningful results, covering 11 trade areas under negotiations that will help build a fairer, more prosperous, and resilient 21st-century economy,” Bianchi said.
The USA and Taiwan launched a new initiative to strengthen economic and trade relations on June 1 and announced their intention to develop a roadmap for negotiations within this scope.
It was reported that the initiative aims to develop concrete ways and mutual trade priorities based on shared values, deepen economic and commercial relations, and promote inclusive economic growth through innovation.