US, Taiwan officials pledge ambitious trade-talk schedule

THE US and Taiwan concluded four days of trade negotiations on Monday (Jan 16), reaching a consensus on several areas related to trade facilitation, anti-corruption, small and medium-sized enterprises and regulatory practices.

The office of the US Trade Representative (USTR) said that in the first major negotiating round of the US-Taiwan Initiative on 21st Century Trade in Taipei, both sides exchanged trade texts on those four areas. It added that the texts “(followed) through on the two sides’ shared commitment to pursue a high-ambition trade initiative” that would “strengthen and deepen economic and trade ties”.

A Taiwan official said that the talks aimed to reach agreements with “economically meaningful” outcomes, and would include discussions on China’s “economic coercion”. The talks will not touch on tariff reductions or traditional market-access enhancements.

In 2022, Taiwan was excluded from a broader US trade initiative covering Indo-Pacific countries. That initiative also focused on non-tariff issues.

Any agreements reached between the US and Taiwan would not need approval by the US Congress. But the USTR noted that congressional staff attended the meetings, and were briefed by USTR officials throughout the talks.

After the first round of negotiations in Taipei, the USTR said that officials “pledged to maintain an ambitious negotiating schedule in the months ahead, to continue this momentum”. It did not share a specific date for the next round of talks, adding that this would be revealed at a later date. REUTERS