WASHINGTON - The US and Taiwan reached agreement on the first part of their 21st Century trade initiative, covering customs and border procedures, regulatory practices, and small business, the US Trade Representative's office said on Thursday (May 18). After the initial agreement of the US-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade...
A demonstrator holds flags of Taiwan and the United States in support of Taiwanese President Tsai Ing-wen during an stop-over after her visit to Latin America in Burlingame, California, US, on Jan 14, 2017.WASHINGTON - The US and Taiwan reached agreement on the first part of their 21st Century trade initiative, covering customs and border procedures, regulatory practices, and small business, the US Trade Representative's office said on Thursday .
US Trade Representative Katherine Tai said in a statement that the deal strengthens US - Taiwan relations and demonstrates they can work together to advance trade priorities for their populations. Taiwan's Office of Trade Negotiations in a statement called the agreement "historically significant" and said Taiwan aimed to finalize negotiations on all remaining issues by the end of the year.
China has reacted furiously to Taiwan President Tsai Ing-wen's recent engagements with high-ranking US politicians, including an April meeting with US House of Representatives Speaker Kevin McCarthy. Announcement of the trade pact comes just ahead of planned meetings between China's commerce minister, Wang Wenta, and USTR Tai and US Commerce Secretary Gina Raimondo.
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