The Bush administration faced pressure from pro-trade Democrats on Wednesday to begin free-trade talks with more countries around the world.
"What we continue to hear is the need for a real focus on some of the larger markets in Asia, such as Taiwan, Malaysia, Thailand and other ASEAN countries," the Democrats said.
In a letter to US Trade Rep-resentative Robert Zoellick, the lawmakers also urged the Bush administration to look at "significant markets in other regions, such as Colombia, the Dominican Republic and Egypt."
It was signed by Senator Max Baucus, the top Democrat on the Senate Finance Committee, and Representatives Cal Dooley, John Tanner and William Jefferson.
Since winning enhanced trade negotiating authority from Con-gress last year, the Bush administration has started free-trade talks with Australia, Morocco, five Central American countries and five southern African countries.
The administration plans to open talks with Bahrain next year as part of its proposal for a Mideast free-trade agreement by 2013. The biggest US trading partner on the current negotiating list is Australia, which ranked 19th last year in two-way trade with the US.
Some of the countries on the Democrats' wish list are already in the line for free-trade negotiations.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook