U.S.-Taiwan to sign off on agreements based on Initiative on Trade

Robert Besser
06 Jun 2023, 15:40 GMT+10

Taiwan and the United States are set to sign the first deal under a new trade framework, marking a significant step in strengthening their ties
The trade talks, initiated through the U.S.-Taiwan Initiative on 21st Century Trade, were launched last August after Taiwan was excluded from the larger Indo-Pacific Economic Framework
The agreement, to be signed in Washington, focuses on customs and border procedures, regulatory practices, and small businesses

TAIPEI, Taiwan: Taiwan and the United States are set to sign the first deal under a new trade framework, marking a significant step in strengthening their ties.

The trade talks, initiated through the U.S.-Taiwan Initiative on 21st Century Trade, were launched last August after Taiwan was excluded from the larger Indo-Pacific Economic Framework.

The agreement, to be signed in Washington, focuses on customs and border procedures, regulatory practices, and small businesses. Future negotiations will cover areas such as agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies.

While an agreement is not expected to impact tariffs, it aims to expand economic cooperation and bolster Taiwan's resilience against economic pressure from China.

Notably, Beijing has consistently opposed such engagements, asserting its claim over Taiwan. Despite this, Taiwan remains firm in rejecting China's sovereignty claims, which have been accompanied by increased military activities in the region.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Japan Herald.

More Information

20 ℃

Fair in Shinagawa City

Asia Pacific

Section

$14 billion takeover bid by JIP a success: Toshiba

TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...

Fewer weddings hit China's $500 billion wedding industry

BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...

China wants Hong Kong consulates to give personal data of local staff

HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...

Canada's TMX expansion may triple oil flow to country's Pacific Coast

CALGARY, Canada: From early 2024, the long-delayed and controversial Canadian government-owned Trans Mountain oil pipeline expansion (TMX) is expected to ...

South Korean teachers seek legal defense against abusive parents

SEOUL, South Korea: Thousands of South Korean educators and school staff gathered in Seoul over the weekend to demand increased ...

Tragedy of 2019 Christchurch attacks remembered

CHRISTCHURCH, New Zealand In a heartfelt tribute to the victims of the tragic 2019 Christchurch attacks, the Australian Federal Police ...

Business

Section