January 31, 2023

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US and Taiwan plan new trade talks

US and Taiwan plan new trade talks

Earlier this month, US top diplomat Nancy Pelosi made a much-discussed visit to Taiwan. © AB

US and Taiwan to start new trade talks The first round of talks is expected to take place this fall, the U.S. Commerce Department said Wednesday evening. This announcement has been made at a time when tension is increasing again in the area.

mtmSource: Belga

The talks should “deepen trade and investment relations, promote mutual trade priorities based on shared values, and encourage innovation and inclusive economic growth,” the US State Department statement said.

Taiwan’s Office of Trade Negotiations said in a separate statement that the talks are aimed at strengthening the island’s economy. By promoting trade in agricultural products and supporting SMEs in expanding towards the US market. Taipei wants to boost international investors’ confidence in Taiwan and enable the island to “attract funds and technologies from the United States and around the world.”

The announcement comes two weeks after US politician Nancy Pelosi’s controversial Taiwan visit. In response, China conducted large-scale military exercises there. They are over now, but the visit of the US Congress a few days ago added fuel to the fire again. Beijing saw it as another “provocation” and announced new maneuvers.

Chinese leaders reject official ties to Taiwan by other countries because they consider the island part of the People’s Republic.

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