The United States and Taiwan have launched formal negotiations to bolster trade ties, a move that will further inflameThe firm timetable for talks, which are expected to deepen co-operation between Washington and Taipei on agriculture, the environment and digital technology, follow a further deterioration in US-China relations this week after US legislators visited Taiwan.
The Office of the US Trade Representative said the first round of talks for the so-called US-Taiwan Initiative on 21st Century Trade would take place later this year.“We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the 11 trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st-century economy,” Deputy US Trade Representative Sarah Bianchi said, as part of the announcement.
While far less economically powerful than China, Taiwan is a key agriculture market and it dominates global semiconductor manufacturing. It is the United States’ ninth-largest trading partner. Australia is also exploring economic opportunities with Taiwan in areas such as hydrogen-based technologies.Tensions between the US and China are unlikely to cool in coming months. President Joe Biden’s co-ordinator for the Indo-Pacific region, Kurt Campbell, said this week US forces would continue to operate in the Taiwan Strait despite Beijing’s warnings to stay out of the area.
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