19.4 C
Sunday, October 1, 2023

US and Taiwan Announce Official Bilateral Trade Negotiations

A total of nearly $106 billion (£88 billion) in trade was conducted between the US and Taiwan in 2020

Must read

Sadaf Hasan
Sadaf Hasan
Aspiring reporter covering trending topics

UNITED STATES: The Office of the US Trade Representative predicted that the first round of negotiations would start in “early September.”

Trade facilitation, digital trade, and anti-corruption standards will all be topics of debate.

China-Taiwan political tension

- Advertisement -

Since Pelosi’s visit, ties between the US and China have become tenser. Both sides of the US-Taiwan Initiative on 21st Century Trade, which was initially launched in June, claim to have “reached unanimity on the negotiation mandate.”

According to Deputy United States Trade Representative Sarah Bianchi, “We plan to pursue an ambitious timeline… that will help construct a fairer, more affluent, more resilient 21st-century economy.”

- Advertisement -

A total of nearly $106 billion (£88 billion) in trade was conducted between the US and Taiwan in 2020. Following Pelosi’s visit earlier in August, China began its largest-ever military drills around Taiwan.

According to the “One China policy,” the United States recognises and maintains formal ties with China rather than the island of Taiwan, but it also keeps a “strong unofficial” relationship with Taiwan, continuing to sell the island armaments so that it can defend itself.

- Advertisement -

The autonomous island is seen as Beijing’s own renegade area that needs to be merged with the mainland.

Taiwan, a self-governing island, perceives itself as separate from the mainland. Separately, the top US ambassador for East Asia, Daniel Kritenbrink stated that the Taiwan Strait’s stability and peace are at risk due to Beijing’s “increasing coercion.”

In response to Beijing’s continuous efforts to destabilise it, he said, “We will continue to take calm but firm steps to protect peace and stability and to assist Taiwan in keeping with our long-standing policy.”

Taiwan is considered to be a part of Chinese territory, and China argues that it should be united with the mainland, using force if necessary. The island has its own constitution, democratically elected officials, and armed forces with roughly 300,000 active members.

Taiwan is recognised by only a few nations. Instead, Beijing is where most people recognise the Chinese government. Although the US has no diplomatic relations with Taiwan, a law mandates it to give the island the tools to defend itself.

Also Read: US Reconsiders its Actions on Tariffs against China in Light of Taiwan’s Answer


- Advertisement -


- Advertisement -

Trending Today