Washington aims to reach “high-standard commitments” on trade issues with Taiwan through a new joint initiative, US Trade Representative Katherine Tai (戴琪) told an investment summit on Tuesday.
“Our next steps include developing and agreeing on a road map for negotiations so we can reach high-standard commitments and outcomes in key areas,” Tai said of the US-Taiwan Initiative on 21st Century Trade at the SelectUSA Investment Summit.
The event — which is organized by the US Department of Commerce and the International Trade Administration — promotes foreign direct investment. It ended yesterday in Maryland after starting on Sunday.
Photo: Bloomberg
Taipei and Washington would focus negotiations on 11 areas, including trade facilitation, regulatory practices, agriculture and fighting corruption, under the joint initiative, which was launched on June 1, the Office of the US Trade Representative said.
The initiative was unveiled about a week after Taiwan was excluded from the Indo-Pacific Economic Framework, a multilateral partnership led by the US that observers say is to be a potential bulwark against China’s growing economic and political influence in the region.
The US is “developing concrete, meaningful ways to strengthen our trade and investment relationship with Taiwan,” Tai said, adding that the relationship was rooted in shared values, and a joint commitment to promote inclusive economic growth that would benefit workers and businesses.
Tai’s remarks came one day after Taiwanese and US officials held the inaugural meeting under the joint initiative, which Deputy US Trade Representative Sarah Bianchi said would “unlock market opportunities, promote innovation, and create inclusive economic growth for our workers and businesses.”
National Development Council Minister Kung Ming-hsin (龔明鑫), who is on an 11-day visit to the US, on Tuesday said that although he did not attend the meeting on Monday, he saw it as “a good start” for both sides to bring the trade relationship another step forward.
Kung is leading a delegation to meet with US government officials and tech company representatives at the summit.
The delegation departed for the US on June 18, visiting San Francisco and Seattle before traveling to Washington, the council said.
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