WASHINGTON -United States Commerce Consultant Katherine Tai mentioned commerce and funding points with Taiwan’s chief commerce negotiator John Deng on Thursday, agreeing to convene a gathering of their Commerce And Funding Framework Settlement Council “in coming weeks”, Tai’s workplace stated.
“Ambassador Tai emphasised the significance of the U.S.-Taiwan commerce and funding relationship and defined the Biden-Harris administration’s worker-centered commerce priorities,” USTR stated in an announcement.
Deng’s workplace stated the ambiance of the talks was “harmonious and constructive.”
Taiwan had been “cautiously optimistic” about resuming stalled excessive stage commerce talks with Washington this yr after U.S. Secretary of State Antony Blinken signaled a attainable resumption on Monday.
The Biden administration has moved to reaffirm its robust dedication to the Chinese language-claimed, democratically-governed island within the face of strain from Beijing to attempt to assert its sovereignty.
Taiwan has lengthy angled for a free commerce cope with america, however commerce and funding talks between the 2 have been stalled for the reason that Obama administration.
A senior official at Taiwan’s financial system ministry instructed Reuters they hope to renew the Commerce and Funding Framework Settlement(TIFA) talks this yr.
The USTR assertion didn’t present particular timing of the assembly, which it stated would come below the auspices of the American Institute in Taiwan and the Taipei Financial and Cultural Consultant Workplace in america.
The TIFA talks stalled after former President Barack Obama left workplace in 2016 and his successor Donald Trump’s commerce consultant, Robert Lighthizer, imposed tariffs on China, the world’s second-largest financial system.
Any such settlement with Taiwan is prone to irritate China.
This week, China’s Defence Ministry denounced a quick weekend go to by three U.S. senators to Taiwan on a U.S. army plane as a “vile political provocation” that was irresponsible and harmful.
Whereas Taiwan is a member of the World Commerce Group, many international locations are cautious of signing commerce offers with the tech powerhouse fearing objections from China, although Taiwan does have free commerce offers with Singapore and New Zealand.
Final yr, Taiwan’s authorities lifted a ban on the import of pork containing a leanness-enhancing additive, ractopamine, eradicating a serious stumbling block to a cope with Washington.
Nonetheless, Taiwan will maintain a referendum in late August on whether or not to renew the ban on the import of pork containing ractopamine. The end result might have an effect on commerce talks with Washington.