US and Taiwan transfer to develop new commerce initiative

US and Taiwan move to develop new trade initiative

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CNN
 — 

The US and Taiwan unveiled a new trade initiative, Taiwan’s trade representative announced Wednesday, after Taiwan was excluded from the US Indo-Pacific economic initiative that President Joe Biden formally announced in Asia last week.

The new initiative – the US-Taiwan Initiative on 21st Century Trade – marks the official launch of trade negotiations between Taiwan and the US. It is a precursor to signing a free trade agreement, Taiwan’s trade representative John Deng said at a news conference on Wednesday.

The initiative covers 11 key areas, including “trade facilitation, regulatory practices, agriculture, anti-corruption, supporting small and medium sized enterprises, digital trade, labor rights, the environment, standards, state owned enterprises and non-market practices and policies,” Deng said.

The Office of the United States Trade…

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