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
The Ministry of Transportation and Communications yesterday inaugurated the Danjiang Bridge across the Tamsui River in New Taipei City, saying that the structure would be an architectural icon and traffic artery for Taiwan. Feted as a major engineering achievement, the Danjiang Bridge is 920m long, 211m tall at the top of its pylon, and is the longest single-pylon asymmetric cable-stayed bridge in the world, the government’s Web site for the structure said. It was designed by late Iraqi-British architect Zaha Hadid. The structure, with a maximum deck of 70m, accommodates road and light rail traffic, and affords a 200m navigation channel for boats,
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest foundry service provider, yesterday said that global semiconductor revenue is projected to hit US$1.5 trillion in 2030, after the figure exceeds US$1 trillion this year, as artificial intelligence (AI) demand boosts consumption of token and compute power. “We are still at the beginning of the AI revolution, but we already see a significant impact across the whole semiconductor ecosystem,” TSMC deputy cochief operating officer Kevin Zhang (張曉強) said at the company’s annual technology symposium in Hsinchu City. “It is fair to say that in the past decade, smartphones and other mobile devices were
US-CHINA SUMMIT: MOFA welcomed US reassurance of no change in its Taiwan policy; Trump said he did not comment when Xi talked of opposing independence US President Donald Trump yesterday said he has not made a decision on whether to move forward with a major arms package for Taiwan after hearing concerns about it from Chinese President Xi Jinping (習近平). Trump’s comments on Taiwan came as he flew back to Washington after wrapping up critical talks in which both leaders said important progress was made in stabilizing US-China relations even as deep differences persist between the world’s two biggest powers on Iran and Taiwan. “I will make a determination,” Trump said, adding: “I’ll be making decisions. But, you know, I think the last thing we need right
TAIWAN ISSUE: US treasury secretary Scott Bessent said on the first day of meetings that ‘it wouldn’t be a US-China summit without the Taiwan issue coming up’ There were no surprises on the first day of the summit between US President Donald Trump and Chinese President Xi Jinping (習近平), the Mainland Affairs Council (MAC) said yesterday, as the government reiterated that cross-strait stability is crucial to the Asia-Pacific region, as well as the world. As the two presidents met for a highly anticipated summit yesterday, Chinese state media reported that Xi warned Trump that missteps regarding Taiwan could push their two countries into “conflict.” Trump arrived in China with accolades for his host, calling Xi a “great leader” and “friend,” and extending an invitation to visit the White House
RSS