Sun, Mar 03, 2024 page1

• Taiwan initiative tops US list on trade

  ‘HIGH PRIORITY’: Biden’s annual report said that the two nations would continue to hold follow-up negotiations on the US-Taiwan 21st Century Trade Initiative

  • Staff writer, with CNA
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  The US-Taiwan 21st Century Trade Initiative topped a list of key accomplishments and priorities in a release on US President Joe Biden’s trade policy agenda issued by the Office of the United States Trade Representative (USTR) on Friday.

  “Trade is an integral part of our Administration’s vision to fundamentally shift our economic policies to focus on strengthening our middle class and working communities,” a release from the office quoted US Trade Representative Katherine Tai (戴琪) as saying.

  “The 2024 Trade Policy Agenda and 2023 Annual Report include key accomplishments and priorities to realize this vision. We are creating new and innovative trade arrangements with our allies and partners, enforcing existing ones, and bringing more diverse voices to the table — to drive inclusive economic growth for more people across our society,” Tai said.

  

  The flags of Taiwan and the US are displayed for a meeting in Taipei on March 27, 2018.

  Photo: Tyrone Siu, Reuters

  The US-Taiwan 21st Century Trade Initiative topped a list in the release below the words: “USTR is implementing the Biden-Harris Administration’s economic vision by negotiating historic trade arrangements with our allies and partners.”

  “In June 2023, the United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), signed the first agreement under the Initiative, which includes high-standard commitments and economically meaningful outcomes in a number of areas,” the release said.

  “The United States and Taiwan, under the auspices of AIT and TECRO, will continue negotiating a second agreement covering other economically significant areas,” it said.

  The US-Taiwan 21st Century Trade Initiative was listed second in Section I of the 2024 Trade Policy Agenda and 2023 Annual Report of the President of the United States on the Trade Agreements Program, after Indo-Pacific Economic Framework for Prosperity.

  Other programs mentioned under the section — which was titled “Agreement, Negotiations, and Other Initiatives” — included the US-Kenya Strategic Trade and Investment Partnership, US-Kenya Strategic Trade and Investment Partnership, and US-Japan Critical Minerals Agreement.

  The report said that the US and Taiwan would continue to hold follow-up negotiations on the US-Taiwan 21st Century Trade Initiative.

  The US-Taiwan initiative “is intended to develop concrete ways to deepen the economic and trade relationship between the two economies, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for workers and businesses,” the report said.

  In June last year, Taiwan and the US signed the first agreement under the initiative, which covers the areas of customs administration and trade facilitation, good regulatory practices, domestic regulation of services, fighting corruption and small and medium-sized enterprises.

  “The United States places a high priority on partnering with Taiwan to further deepen and strengthen our trade and investment relationship,” the report said.
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