US & Taiwan to hold new trade negotiations in Taipei

The US delegation, led by the Office of the US Trade Representative (USTR) and specifically by Assistant US Trade Representative for China, Mongolia, and Taiwan Affairs, Terry McCartin, will include representatives from various US government agencies. This delegation underscores the significant US commitment to deepening economic ties with Taiwan through detailed and comprehensive negotiations, USTR said in a press release.

This upcoming round follows the successful conclusion of an initial agreement under the same initiative, which was signed on June 1, 2023. The prior agreement covered crucial areas such as customs administration and trade facilitation, good regulatory practices, services domestic regulation, anti-corruption, and support for small- and medium-sized enterprises (SMEs). These measures have already begun to facilitate smoother trade and investment between the US and Taiwan, offering US businesses greater access to the Taiwanese market, enhancing transparency, and creating a more streamlined regulatory environment.

The negotiators will discuss several key trade areas outlined in the initiative’s mandate, building on the foundation laid by the first agreement to further integrate and optimize bilateral trade and economic interactions.

These negotiations are conducted within the framework of the US' one China policy, adhering to the principles of the Taiwan Relations Act, the three US-China Joint Communiques, and the Six Assurances, ensuring that diplomatic protocols are maintained while striving for economic benefits for both nations.

Fibre2Fashion News Desk (DP)