The US has ruled out a free-trade agreement (FTA) with Taiwan amid a dispute over beef imports, days after the nation signed a sweeping accord with China.
President Ma Ying-jeou (馬英九) has tried to sell the landmark accord with China to voters in part by arguing that Taiwan would now be able to pursue FTAs with more countries, as Beijing would no longer object.
“The United States has no plans to begin talks with Taiwan about an FTA at this time,” David Shear, the State Department point man on China-Taiwan ties, said on Wednesday at the Carnegie Endowment for International Peace.
“Despite our excellent relations, I am disappointed by the lack of progress the United States and Taiwan have made on trade issues” in recent years, said Shear, a deputy assistant secretary of state.
Negotiations between the US and Taiwan on a Trade and Investment Framework Agreement (TIFA) — often a precursor to a full-fledged FTA — have been dormant since 2007.
Shear said such talks would be the best forum to discuss trade.
With lawmakers from farm states leading the charge, the US has been pressing for years for lucrative Asian markets such as Japan, South Korea and Taiwan to accept more US beef, causing friction with the close US partners.
The countries imposed restrictions in late 2003 after mad cow disease was detected in a US herd.
Some scientists believe humans can contract Creutzfeldt-Jakob disease by eating infected animals’ brains and spinal cords.
Taiwan agreed with the US in October to let in more beef products, but the nation’s legislature reimposed restrictions three months later after a public outcry.
Despite the disagreement, Shear said he hoped the beef issue would not “overshadow” other trade and he stood by US security commitments to Taiwan.
Shear strongly supported the Economic Cooperation Framework Agreement (ECFA) that Taiwan recently signed with China and said that one of the goals under the pact should be to make Taiwan a more attractive place to trade and invest by lowering non-tariff trade barriers and by facilitating efforts by US and other foreign firms to base their regional operations in Taiwan.
Shear said that Ma had emphasized that he hoped Taiwan would be able to enter into new trading arrangements with other trading partners now that the ECFA had been signed.
Under WTO rules any WTO member is free to negotiate trade agreements with other members as long as WTO standards are met.
“And we believe Taiwan should be able to do that,” he said.
“We hope to see Taiwan become engaged in a broad range of international issues from trade to health to the environment. Taiwan has shown again and again that it can play an important role in the international community,” Shear said.
We strongly support Taiwan’s meaningful participation in all appropriate international organizations. Taiwan’s expertise can benefit the international community,” he said.
Also See: ECFA to lift GDP by 0.4 points: minister
People can preregister to receive their NT$10,000 (US$325) cash distributed from the central government on Nov. 5 after President William Lai (賴清德) yesterday signed the Special Budget for Strengthening Economic, Social and National Security Resilience, the Executive Yuan told a news conference last night. The special budget, passed by the Legislative Yuan on Friday last week with a cash handout budget of NT$236 billion, was officially submitted to the Executive Yuan and the Presidential Office yesterday afternoon. People can register through the official Web site at https://10000.gov.tw to have the funds deposited into their bank accounts, withdraw the funds at automated teller
PEACE AND STABILITY: Maintaining the cross-strait ‘status quo’ has long been the government’s position, the Ministry of Foreign Affairs said Taiwan is committed to maintaining the cross-strait “status quo” and seeks no escalation of tensions, the Ministry of Foreign Affairs (MOFA) said yesterday, rebutting a Time magazine opinion piece that described President William Lai (賴清德) as a “reckless leader.” The article, titled “The US Must Beware of Taiwan’s Reckless Leader,” was written by Lyle Goldstein, director of the Asia Program at the Washington-based Defense Priorities think tank. Goldstein wrote that Taiwan is “the world’s most dangerous flashpoint” amid ongoing conflicts in the Middle East and Russia’s invasion of Ukraine. He said that the situation in the Taiwan Strait has become less stable
CONCESSION: A Shin Kong official said that the firm was ‘willing to contribute’ to the nation, as the move would enable Nvidia Crop to build its headquarters in Taiwan Shin Kong Life Insurance Co (新光人壽) yesterday said it would relinquish land-use rights, or known as surface rights, for two plots in Taipei’s Beitou District (北投), paving the way for Nvidia Corp to expand its office footprint in Taiwan. The insurer said it made the decision “in the interest of the nation’s greater good” and would not seek compensation from taxpayers for potential future losses, calling the move a gesture to resolve a months-long impasse among the insurer, the Taipei City Government and the US chip giant. “The decision was made on the condition that the Taipei City Government reimburses the related
FRESH LOOK: A committee would gather expert and public input on the themes and visual motifs that would appear on the notes, the central bank governor said The central bank has launched a comprehensive redesign of New Taiwan dollar banknotes to enhance anti-counterfeiting measures, improve accessibility and align the bills with global sustainability standards, Governor Yang Chin-long (楊金龍) told a meeting of the legislature’s Finance Committee yesterday. The overhaul would affect all five denominations — NT$100, NT$200, NT$500, NT$1,000 and NT$2,000 notes — but not coins, Yang said. It would be the first major update to the banknotes in 24 years, as the current series, introduced in 2001, has remained in circulation amid rapid advances in printing technology and security standards. “Updating the notes is essential to safeguard the integrity
RSS