US Trade Representative Katherine Tai says Taiwan is a vibrant democracy and an important trading partner in East Asia. The comments were made Thursday in Tai’s written submission to the Senate Finance Committee on US trade policy regarding Taiwan.
Tai said Taiwan and the United States commenced a bilateral trade initiative last June. The deal is officially titled the U.S.–Taiwan 21st Century Trade Initiative.
The first round of negotiations between Taiwan and the United States was held in Taipei in January this year. A summary of the negotiations released last week identified five issues of concern for the US side. They include customs management and trade facilitation, manufacturing regulations, domestic regulations for service industries, anti-corruption measures, and issues concerning small and medium-sized enterprises. The summary added that the negotiations were being done through the two sides’ unofficial representative offices. It added negotiations are being undertaken in accordance with the United State’s one China policy.
Taiwan’s Cabinet says the signing of the trade initiative will be arranged once the final text is approved by both sides.