US and Taiwan formally begin trade talks

United States and Taiwan

The two countries want to start formal trade talks.

(Photo: AP)

Washington The United States and Taiwan begin formal trade talks as part of a new initiative. “We aim to pursue an ambitious timeline to achieve high-level commitments and meaningful results…that will help build a fairer, more prosperous and resilient 21st century economy,” US Deputy Trade Representative Sarah Bianchi said on Wednesday .

The start of the talks serves the purpose of reaching agreements with “high standard obligations and economically sensible results”. It is about trade facilitation, good regulatory practices and the elimination of discriminatory trade barriers. There was no mention of a comprehensive free trade agreement that Taiwan is pushing for.

The trade talks are another sign of increased US support for the island. China regards Taiwan, which insists on independence, as part of the People’s Republic. The first round of talks is scheduled to take place in early autumn of this year.

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