US-Taiwan trade talks get boost after 28 years, as frayed China ties trump US$40 billion trade deficit
- White House may announce ‘ambitious’ Taiwan trade road map any day now
- US-Taiwan trade talks started in 1994 but have failed to generate much traction
US officials are pushing ahead on trade talks with Taiwan – once regarded as a tough partner because of an import-export deficit – to show political support and secure semiconductors for the American market, according to analysts.
Presidential deputy assistant Kurt Campbell said at a White House briefing on Friday that the US government will continue to “deepen our ties with Taiwan, including through continuing to advance our economic and trade relationship”, and that Washington was developing an “ambitious road map” for trade negotiations.
The White House was expected to announce its Taiwan trade road map “in the coming days”, Campbell added. The American Institute in Taiwan – the US’ de facto embassy in Taipei – had no further information as of Tuesday.
Taiwan-US trade talks began in 1994 but have failed to generate the sort of tariff-busting deal that hatches from many other trade negotiations.
The US still has a trade deficit with Taiwan, a major exporter of manufactured goods such as machinery and consumer electronics. The trade-in-goods deficit stood at about US$40.27 billion last year – a year-on-year increase of more than 30 per cent.