US, Taiwan to begin formal dialogue for commerce deal
- August 20, 2022
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You United States and Taiwan will begin formal negotiations for a trade and investment agreement, the office of the US Trade Representative said on Wednesday. The negotiations should take place as early as September (autumn in the USA).
The announcement represents a new step in the strengthening of their relations, against the backdrop of the tensions with China.
These discussions are part of an initiative announced in June, following a first meeting held in the same month.
In addition to developing exchanges and investments, the talks will address the issue of responses to “anti-market policies and methods”, announced the office of US Trade Representative Katherine Tai, which could be interpreted as a reference to China.
The formal start of these new discussions is a sign of the United States’ willingness to move closer to Taiwan, already an important trading partner.
In early August, House Speaker Nancy Pelosi traveled to the island, followed by a group of lawmakers on Monday.
Chinese officials viewed the Democrat’s visit as a provocation and responded with trade sanctions on Taiwan, as well as military maneuvers near the island.
Although they have been ruled separately since 1949, China claims Taiwan as part of its territory and opposes its recognition as an independent nation.
Taipei and Washington have had a trade and investment “structure” since 1994, but not a formal agreement.
The agreement “will strengthen trade and investment” and “promote innovation and inclusive economic growth for our workers and our businesses,” said Sarah Bianchi, deputy US trade representative.
Source: O Globo Agency