US, Taiwan to begin trade negotiations
The United States and Taiwan, under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO), on Wednesday reached consensus on the negotiating mandate for the U.S.-Taiwan Initiative on 21st-Century Trade announced on June 1, 2022, the Office of the U.S. Trade Representative announced.
The first round of negotiations is expected to take place early this fall.
“Today, we begin negotiations with Taiwan under the auspices of AIT and TECRO that will deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses,” said Deputy U.S. Trade Representative Sarah Bianchi. “We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the 11 trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st-century economy.”
The agriculture section of the mandate says, “The United States and Taiwan will seek to adopt provisions to facilitate agricultural trade through science- and risk-based decision making and the adoption of sound, transparent regulatory practices. The two sides will also seek to adopt provisions to support collaborative and cooperative mechanisms on food security and on the use of production practices, including new and innovative technologies, that increase agricultural productivity while decreasing land, water and fuel use and help contribute to climate adaptation and resiliency.”
The mandate does not say that the negotiations will include tariff reductions.
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