(ANSA) – BEIJING, Aug. 18 – Taiwan and the US have reached “consensus on negotiating mandate” in 11 areas – including climate, agriculture and digital trade – with the goal of working to define an agreement as part of the “US” Taiwan Initiative on Trade of the Century XXI” announced last June, a few days after the “Indo-Pacific Economic Initiative” which excluded Taipei, and if the agreement is reached, it will not be a free trade agreement referring to the island instead.
A statement from the US office said the negotiations will deepen bilateral trade and investment ties, advance mutual trade priorities based on shared values, as well as innovation and inclusive economic growth for workers and businesses in Taiwan and the United States. United States Trade Representative (Ustr).
The announcement, which has ripened amid heightened tensions by China’s unprecedented military maneuvers around the island in response to House Speaker Nancy Pelosi’s visit to Taiwan earlier this month, is intended to stoke tensions between Washington and Beijing which it most insistently accuses the US side of violating the “China principle/policy”. One” on the basis of bilateral relations. On the other hand, the initiative does not fully meet Taiwan’s hopes for a bilateral free trade agreement, although the talks are considered important in keeping contacts open and it hopes to be able to negotiate such an agreement in the future.
Taiwan is the ninth largest trading partner of the United States, according to data from the Office of the United States Trade Representative for 2020 and is one of the world’s largest suppliers of semiconductors and other high-tech components. (Dealing).
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