Most recently, the United States is expected to hold new trade talks with Taiwan, U.S. officials said. on Wednesday. The move comes days after President Joe Biden launched an economic plan for Asia which is speculated to be to put pressure on China.
Washington and Taipei will develop a roadmap as a planned U.S.-Taiwan Initiative for 21st Century Trade in the next few weeks then it will be followed by a private meeting in the U.S. capital based on reports from senior U.S. officials.
The initiative aims to “reach agreements with high standards commitments that create inclusive and sustainable prosperity” on issues that include customs facilitation, fighting corruption, standards on digital trade, labor rights and high environmental standards.
The bilateral initiative is largely in line with the Biden administration's Indo-Pacific Economic Framework (IPEF), which is an economic partnership with 13 Asian countries. However, Taiwan was excluded from the invitation during the day.
Analysts argue that other countries are likely to be hesitant to join the group with Taiwan because the balance will anger Beijing, which regards Taiwan as its own territory. More than 200 members of the U.S. Congress. has called for Taiwan to be included in the IPEF.
The announcement of the Taiwan talks was made after a meeting on Wednesday between the U.S. Deputy Trade Representative. Sarah Bianchi and Taiwan’s chief trade consultant John Deng.
Speaking in Taipei, Deng said they hope there will be an opportunity soon to sign Taiwan’s long -sought free trade agreement with the United States, noting that they are still working to join the IPEF.
