Washington/Taipei: The United States and Taiwan have announced bilateral trade while the atmosphere has heated up over the visit of Speaker Nancy Pelosi to Taiwan. This was announced by the trade representatives of the United States and Taiwan. US Deputy Trade Representative Sarah Bianchi said that the United States is preparing to negotiate 11 trade areas with Taiwan to help Taiwan become a more prosperous and resilient economy in the 21st century. China has expressed displeasure over the US-Taiwan talks.
In June, officials from the United States and Taiwan approved the US-Taiwan initiative on 21st-century trade. This indicated that the foundation of economic and trade agreements would be developed between the United States and Taiwan. The announcement of bilateral trade talks on Thursday becomes the next step. Both the countries informed that the official negotiations would start in two to three months.
In recent years, the United States has provided substantial assistance to Taiwan at the diplomatic, trade, economic, and defence levels. Former President Donald Trump took the initiative for this. The United States started a de-facto embassy in Taiwan as the ‘American Institute in Taiwan’. Steps were taken to strengthen ties with Taiwan in several sectors, including semiconductors. ‘Trade and Investment Framework Agreement’ and ‘Technology, Trade and Investment Collaboration’ are part of the same initiative. Analysts claim that the US-Taiwan initiative on 21st-century trade is part of preparations for a trade deal with Taiwan.
China has reacted to the new cooperation between America and Taiwan. The spokesperson of China’s Department of Commerce said, ‘China strongly opposes the US-Taiwan talks, and China will take necessary steps to protect its interests.’
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