US President Joe Biden is expected to unveil a list of nations today who would be joining a long anticipated Indo-Pacific region trade pact, but Taiwan will not be among them.
US National Security Adviser Jake Sullivan said that Taiwan is not among the governments included in the launch of the Indo-Pacific Economic Framework, a trade pact that is meant to allow the US to work more closely with key Asian economies on issues including supply chains, digital trade, clean energy and anticorruption efforts.
The US president is scheduled to highlight the launch of the framework as he meets with Japanese Prime Minister Fumio Kishida today.
Photo: AFP
“We are looking to deepen our economic partnership with Taiwan, including on high technology issues, including on semiconductor supply, but we’re pursuing that in the first instance on a bilateral basis,” Sullivan said.
The framework is meant to establish Biden’s economic strategy for the region.
Matthew Goodman, senior vice president for economics at the Center for Strategic and International Studies in Washington, said that some Pacific signatories are likely to be disappointed, as the pact is not expected to include provisions for greater access to the US market.
“I think a lot of partners are going to look at that list and say: ‘That’s a good list of issues. I’m happy to be involved, but, you know, are we going to get any tangible benefits out of participating in this framework?’” said Goodman, a former director for international economics on the US National Security Council during former US president Barack Obama’s administration.
Beijing has criticized the US effort to form the trade pact.
“We hope they will build an open and inclusive circle of friends in Asia-Pacific, rather than an exclusive clique, and do more for peace and development rather than creating turmoil and chaos in the region,” Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said.
The Ministry of Foreign Affairs yesterday expressed regret over Taiwan’s exclusion from the first round of IPEF members.
As an important economy, Taiwan plays a crucial role in the global supply chain and definitely qualifies for IPEF membership, it said, adding that the government would continue to seek new opportunities to join the pact.
Additional reporting by staff writer
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