The United States and Taiwan agreed to start trade talks under a new initiative, saying they wanted to reach agreements with “economically meaningful outcomes,” in another sign of stepped up U.S. support for the island. The U.S.-Taiwan Initiative on 21st-Century Trade in June, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan designed to counter China’s growing influence.
The office of the U.S. Trade Representative said the two sides had “reached consensus on the negotiating mandate” and it was expected that the first round of talks will take place early this autumn.
“We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st-century economy,” Deputy United States Trade Representative Sarah Bianchi said in a statement.
Consul General from China to Karachi said that China firmly opposes the US announcement of launching negotiations for the so-called “US-Taiwan Initiative on 21st Century Trade”
“The one-China principle is the premise for China’s Taiwan region to engage in any external economic cooperation,” China’s Commerce Ministry said in a statement.
Beijing’s statement came after the US on Wednesday said it has agreed to launch formal negotiations on a bilateral trade framework with Taiwan early in the fall.
“The United States and Taiwan, under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States, today have reached consensus on the negotiating mandate for the US-Taiwan Initiative on 21st-Century Trade announced on June 1, 2022,” the Office of the US Trade Representative said in a statement.
