United States, Taiwan To Pursue Trade Agreement

The Office of the U.S. Trade Representative has announced the United States and Taiwan have agreed to start formal talks on a trade pact. The negotiations on the potential agreement will begin early this fall and will cover several subject areas:

• Distortive practices of state-owned enterprises
• Non-market policies and practices
• Trade facilitation
• Good regulatory practices
• Strong anti-corruption standards
• Enhancing trade between small and medium enterprises
• Deepening agriculture trade
• Removing discriminatory barriers to trade
• Digital trade
• Labor and environmental standards

The USTR promised to continue to consult with Congress and key stakeholders like labor, business, environmental groups, and others throughout negotiations. Deputy U.S. Trade Representative Sarah Bianchi said the negotiations would “deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses.”

A statement from Taiwan’s Office of Trade Negotiations said the talks would strengthen investment and trade between the U.S. and Taiwan and bolster the island’s overall economic strength and increase its participation in international pacts.