US, Taiwan finish round of trade talks, agree to keep discussing 11 topics
- Areas highlighted for continued discussion include anticorruption efforts, digital trade, state-owned enterprises and non-market policies and practices
- No agreement is expected until at least next year
The US and Taiwan wrapped up two days of trade talks on Wednesday, laying out a road map for continuing negotiations in 11 areas. No agreement is expected until next year.
“The mandate envisions the negotiation of high-standard commitments and economically meaningful outcomes,” the Office of the United States Trade Representative said in a statement short on specifics. “The two sides agreed to hold additional meetings.”
Taiwan and the US do not have formal diplomatic relations so Washington was represented by the American Institute in Taiwan, the de facto US embassy, and Taipei by the Taipei Economic and Cultural Representative Office in the United States.
The talks run parallel to, and replicate in scope, the Indo-Pacific Economic Framework that US President Joe Biden launched in May. Given China’s sensitivity over Taiwan’s participation in multilateral groupings, Washington created this parallel mechanism, analysts say.
Both sets of trade talks reflect Biden’s bid to strengthen ties with allies and boost trade in the region in a bid to counter China’s growing footprint.
Terry McCartin, assistant US trade representative, led the US delegation during the talks, known officially as the US-Taiwan Initiative on 21st Century Trade, with several other economic, finance and small business agencies participating on both sides.