US-Taiwan Relations: US and Taiwan make business deals bypassing China’s opposition.
The US and Taiwan have completed talks on a trade deal to deepen economic ties amid rising tensions between Washington and Beijing.
The US and Taiwan have reached an agreement on their “21st Century” trade initiative, covering customs and border procedures, regulatory practices, and small businesses, the Office of the US Trade Representative said on Thursday.
The USTR said that after the signing of the initial agreement of the US-Taiwan Initiative on Trade in the 21st Century, other, more complex trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies Negotiations and exercises will begin.
US-Taiwan Relations: America-Taiwan relations will be strong.
US Trade Representative Catherine Tai said in a statement that the deal strengthens US-Taiwan ties and shows they can work together to advance trade priorities for their populations.
Catherine Tai said that we are ready to continue these negotiations and finalize a strong and high-standard trade agreement to meet the economic challenges of the 21st century.
Taiwan’s trade negotiation office called the agreement “historically significant” in a statement. He said Taiwan aims to finalize negotiations on all remaining issues by the end of the year.
Exports will increase between the two countries.
The agreement is not expected to alter goods tariffs, but supporters say it would strengthen economic ties between the US and Taiwan, open up the Chinese-claimed island to more US exports, and protect Taiwan from China. This will enhance Taiwan’s ability to resist economic pressure.
