US-Taiwan to start bilateral trade talks amid tensions with China

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US Taiwan
US and Taiwan. (Illustration)

Jakarta, IO – US and Taiwan kicked off bilateral trade negotiations after US House Speaker Nancy Pelosi visited the island on August 2, marking a new height of US economic support for Taiwan.

In June, Washington and Taipei unveiled the US-Taiwan Initiative on 21st-Century Trade, just days after the Biden administration excluded the island nation from its economic plan to counter China’s growing influence in the Asia Pacific region.

The office of the US Trade Representative said the two sides have reached a consensus on the negotiating mandate and expected the first round of talks to take place early this autumn.

“We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous, and resilient 21st-century economy,” said US Deputy Trade Representative Sarah Bianchi, as reported by CNBC Indonesia, Friday (19/8).