USA and Taiwan will begin formal negotiations for a trade and investment pact 

USA and Taiwan will begin formal negotiations for a trade and investment pact  — The U.S. and Taiwan will begin official discussions for a bilateral trade and investment initiative this autumn to enhance connections on a variety of subjects, including digital commerce, agriculture, and trade facilitation. The U.S. made the announcement on Wednesday.

The new treaty would also target “distortive practices of state-owned companies and nonmarket policies and practices,” according to the office of the U.S. Trade Representative, a clear allusion to China’s policies without naming the nation. Details of the bilateral project follow the first announcement of the plan in June and come as tensions between the United States and China over Taiwan rise after House Speaker Paul Ryan’s visit to the self-governing island.

According to Deputy United States Trade Representative Sarah Bianchi, the treaty would “deepen our trade and investment partnership, advance mutual trade goals based on shared principles, and encourage innovation and inclusive economic development for our people and companies.”

“We want to pursue an aggressive pace for securing high-quality pledges and significant achievements in the eleven trade sectors covered by the negotiating mandate, which will help construct a more equitable, prosperous, and resilient economy for the twenty-first century.”

USA and Taiwan will begin formal negotiations for a trade and investment pact 
USA and Taiwan will begin formal negotiations for a trade and investment pact

 

China has resisted U.S. attempts to deepen relations with Taiwan, arguing that the U.S. is abandoning its long-held policy of recognizing the People’s Republic of China as the only legitimate government of China.

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When plans to enhance U.S.-Taiwan commercial relations were revealed in June, a Chinese embassy spokeswoman said, “China resolutely opposes any sorts of official contacts between Taiwan and nations with diplomatic connections to China, under any name or in any form.”

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