US-Taiwan trade: Washington announces start of talks for bilateral agreement with an eye on Beijing
- Agreement to address ‘significant distortions’ caused by state-owned enterprises and harm caused by non-market practices and policies
- Taiwanese negotiator says talks will help island straighten trade practices and statutes, paving the ground for a future free trade agreement with the US
US deputy trade representative Sarah Bianchi said a first round of talks would start in early autumn to “develop an ambitious road map for negotiations under the US-Taiwan Initiative on 21st-Century Trade”.
The negotiations will take place under the auspices of the American Institute in Taiwan (AIT), Washington’s de facto embassy on the self-ruled island, and the Taipei Economic and Cultural Representative Office in Washington (Tecro).
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Using language that appeared to be directed at Beijing, the announcement said the agreement would address “significant distortions” caused by state-owned enterprises and harm caused by non-market practices and policies.
“The United States and Taiwan are market-oriented economies and understand the harm that can be caused by trade partners that deploy non-market policies and practices, which threaten livelihoods and can harm workers and businesses.
“The two sides will seek to adopt provisions that promote collaboration on ways to address these harmful non-market policies and practices,” it added.
The trade facilitation part of the new bilateral framework will include, among other things, fewer “border formalities”, “paperless trade and the submission of advance electronic data” and customs cooperation.
