Taiwan and the US yesterday announced that they would commence negotiations on a new trade agreement, dubbed the “Taiwan-US Initiative on 21st-century Trade,” signaling a breakthrough after Taiwan was excluded from a US-led regional trade framework.
The first round of negotiations would be held in Washington at the end of this month, Minister Without Portfolio John Deng (鄧振中) told a news conference in Taipei, adding that he would head the Taiwanese delegation to the US.
Deng made the announcement after an online meeting with Deputy US Trade Representative Sarah Bianchi, in which the two sides agreed on the initiative’s name.
Photo: Lee Hsin-fang, Taipei Times
The negotiations would cover 11 areas, but would not include tariffs, Deng said.
The 11 areas include trade facilitation, agricultural trade, fighting corruption, common standards on digital trade, workers’ rights, environmental regulations and state-owned companies, Deng said.
The bilateral initiative largely parallels US President Joe Biden’s Indo-Pacific Economic Framework (IPEF), an economic partnership with 13 Asian countries that he launched last week during a visit to Seoul and Tokyo. Taiwan was not included, although more than 200 members of the US Congress had called for its inclusion.
Deng said that although some of the initiative’s areas would overlap with those in the IPEF, Taiwan would continue working toward joining the regional agreement.
“For many years we have been hoping to launch trade talks with the US, and now the trade talks can officially begin,” Deng said. “This initiative provides us with a mechanism for talks, and Taiwan and the US aim to reach agreements on some topics and sign some agreements in the shortest possible time.”
Meanwhile, the two sides would continue the current Trade and Investment Framework Agreement (TIFA) talks, Deng said, adding that negotiations under the new initiative are intended to lead to the inking of new trade agreements, while TIFA talks focus on solving trade-related disputes.
The talks with Taiwan, led for Washington by the US Trade Representative’s office, would supplement several existing dialogues with Taipei, including one led by the US Department of Commerce on export controls and other supply chain issues, a US official said.
Like the IPEF, the initiative with Taiwan would not need US congressional approval because it would not include market access requirements or reduced tariffs, the official added.
The so-called US “fast track” negotiating authority for major trade agreements expired in July last year, and the Biden administration has not asked the US Congress to renew it.
“We think there’s a lot of robust areas that we can cover, that would really deepen our economic engagement, our economic ties, without dealing with market access issues, but, of course, obviously, we’re not ruling anything out for the future,” the official said.
A second official said the new initiative added to other efforts to “highlight the US commitment to the region, specifically economically.”
The US had lacked an economic pillar to its Indo-Pacific engagement since former US president Donald Trump quit a multinational trans-Pacific trade agreement, in part out of concern over US jobs.
The military yesterday showed off its latest domestically produced armored vehicle, the CM-34 Clouded Leopard, at a remote manufacturing site in the nation’s central mountains. Taiwan has been eager to demonstrate its resolve to defend itself should China ever attack. Those fears have become more pronounced over the past few years as Beijing has stepped up military activities near Taiwan. While Taiwan relies on the US for many of its weapons, such as fighter jets, President Tsai Ing-wen (蔡英文) has been pushing for a greater emphasis on Taiwanese-designed and made armaments, the most high profile of which is new submarines. The eight-wheeled CM-34,
The Ministry of Foreign Affairs yesterday denounced Russian President Vladimir Putin for disparaging Taiwan’s sovereignty by saying that Taiwan issues are “China’s internal affairs.” The ministry strongly condemned Putin’s “false” remarks that “undermined the sovereignty of the Republic of China,” ministry spokeswoman Joanne Ou (歐江安) told a news briefing. Xinhua news agency cited Putin as telling Chinese President Xi Jinping (習近平) during a telephone call on Wednesday that Russia opposed any interference from external forces in China’s internal affairs, such as in Xinjiang, Hong Kong and Taiwan. Ou said that Taiwanese elect their government in free and fair elections, adding that only the
‘DEMOCRATIC FISH’: Soichiro Hayashi said he wants to return Taiwan’s kindness after it helped with relief efforts after the March 11, 2011, earthquake and tsunami Japanese fish farmers are ready to help Taiwan after China banned Taiwanese grouper imports, the Sankei Shimbun reported yesterday. The Chinese General Administration of Customs suspended imports of the fish on Monday last week, citing prohibited chemicals and excessive levels of oxytetracycline allegedly found in grouper imports since December last year. Soichiro Hayashi, president of the Hayashi Trout Farm in Japan’s Fukushima Prefecture, is leading the push for Taiwanese grouper imports, the newspaper said. His call has caught the attention of several large sushi chains, the report said. Hayashi, who is the Fukushima branch head of the Friends of Lee Teng-hui Association in Japan,
‘TROJAN HORSE’ SCHEME: The comment that a bridge would allow China’s PLA to easily launch an attack shows ‘a lack of backbone,’ Taipei Mayor Ko Wen-je said Critics accused Taipei Mayor Ko Wen-je (柯文哲) of being oblivious to national security concerns after he proposed constructing a bridge to link Kinmen and China’s Xiamen (廈門). Ko, who is also the Taiwan People’s Party (TPP) chairman, made the proposal when presiding over the opening ceremony of the party’s office in Kinmen on Saturday. He said the bridge could solve Kinmen’s population, electricity and garbage problems, as well as serve as a shortcut for leaving or entering Taiwan without traveling via Taipei International Airport (Songshan airport). He also proposed building a hospital in Kinmen to attract people who are seeking medical treatment in
RSS