U.S., Taiwan to start formal trade talks under new initiative
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[August 18, 2022]
TAIPEI (Reuters) -The United
States and Taiwan have agreed to start trade talks under a new
initiative to reach agreements with "economically meaningful outcomes",
with a Taiwan official saying China's "economic coercion" would also be
discussed.
Washington and Taipei unveiled the U.S.-Taiwan Initiative on
21st-Century Trade in June, just days after the Biden administration
excluded the Chinese-claimed island from its Asia-focused economic plan
designed to counter China's growing influence.
The office of the U.S. Trade Representative said the two sides had
"reached consensus on the negotiating mandate" and it was expected that
the first round of talks would take place early this autumn.
"We plan to pursue an ambitious schedule for achieving high-standard
commitments and meaningful outcomes covering the eleven trade areas in
the negotiating mandate that will help build a fairer, more prosperous
and resilient 21st-century economy," Deputy United States Trade
Representative Sarah Bianchi said in a statement.
Taiwan's top trade negotiator, John Deng, told reporters in Taipei he
hoped talks could start next month, and that this could one day lead to
a free trade deal the island has long sought with the United States.
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The negotiating mandate released along with the announcement said the
United States and Taiwan had set a robust agenda for talks on issues
like trade facilitation, good regulatory practices, and removing
discriminatory barriers to trade.
It said the beginning of the formal talks would be for the purpose of
reaching agreements with "high standard commitments and economically
meaningful outcomes".
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Taiwan flags flutter during a welcome ceremony for Saint Vincent and
the Grenadines Prime Minister Ralph Gonsalves (not pictured) outside
the presidential palace in Taipei, Taiwan August 8, 2022.
REUTERS/Ann Wang
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Deng said one topic would be China's economic coercion, a reference
to action Beijing takes to block trade with countries it is in
dispute with, such as when Lithuania allowed Taiwan to open a de
facto embassy in its capital.
"Its economic coercion targets are not just the United States or
Taiwan, it's done to a lot of countries. Its harm to the global
economic and trade order is great," Deng said.
Despite the lack of formal diplomatic ties, the United States has
been keen to bolster support for Taiwan, especially as it faces
stepped up political pressure from China to accept its sovereignty
claims.
China reiterated its opposition to the new Taiwan-U.S. trade
initiative.
Foreign ministry spokesperson Wang Wenbin told reporters in Beijing
that China opposed any country signing official trade deals with
Taiwan, and he called on the United States to stop its engagement
with the island.
"China will take resolute measures to uphold its national
sovereignty and territorial integrity. We advise the United States
stop making misjudgements," he said.
(Reporting by Ben Blanchard; Additional reporting by Eduardo
Baptista in Beijing; Editing by Stephen Coates, Robert Birsel)
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