(ANSA) – BEIJING, 18 AUGUST – Taiwan and the US have reached “consensus on the negotiating mandate” on 11 areas – including climate, agriculture and digital commerce – with the aim of working on defining an agreement as part of the ‘ US-Taiwan initiative on 21st century trade “announced last June, a few days after the ‘Economic Initiative for the Indo-Pacific’ which excluded Taipei. The agreement, if reached, will not be a free trade agreement on which instead pointed the island.
The negotiations will deepen bilateral trade and investment relations, promote mutual trade priorities based on shared values, as well as innovation and inclusive economic growth for workers and businesses in Taiwan and the US, a statement from the Bureau of the United States said. United States Commercial Representative (Ustr).
The announcement, which matured amid the growing tensions of China’s unprecedented military maneuvers around the island in response to House Speaker Nancy Pelosi’s visit to Taiwan earlier this month, is destined to fuel tensions between Washington and Beijing which with greater insistence he accuses the American side of the violation of the ‘One China’ principle / policy at the basis of bilateral relations. On the other hand, the initiative does not fully meet Taiwan’s hopes for a bilateral free trade agreement, although the talks are seen as important in keeping communications open and hoping to be able to negotiate such an agreement in the future.
Taiwan is the ninth largest trading partner of the United States, according to data from the United States Trade Representative Office for 2020 and is one of the world’s largest suppliers of semiconductors and other hi-tech components. (HANDLE).
Source: Ansa
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