Date: August 17, 2022
News Author(s): Ambar Warrick
Photo Credit: Reuters
The United States and Taiwan are set to begin formal negotiations over an initiative to expand trade ties between the two countries, Washington said late Wednesday.
The Office of the United States Trade Representative said in a press release that the first round of negotiations will start early this fall.
The negotiations come under the recently unveiled U.S.-Taiwan Initiative on 21st-Century Trade, which intends to bolster trade between the two countries. The initiative was announced in June.
“We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st century economy,” Deputy United States Trade Representative Sarah Bianchi said in a statement.
The two countries have set an agenda for the negotiations, which will cover the facilitation of trade, regulatory practices, agriculture, and labor rights, among other topics. But the agenda did not include discussions over a free trade agreement.
The announcement comes just a few weeks after U.S. House of Representatives Speaker Nancy Pelosi visited the east Asian island - a move that drove U.S.-China relations to a new low.
China had responded to the visit with military drills along the Taiwan strait. Beijing has opposed the building of any formal diplomatic ties between the United States and Taiwan, which it claims is part of its territory.
But while the United States does not hold any formal diplomatic ties with Taiwan, it has sought to support the island in rejecting Beijing’s claim.
Washington had recently also outlined an economic plan aimed at combating China's influence in Asia. But the plan had excluded Taiwan. The East Asian island - through Hon Hai Technology Co (TW:2317), or Foxconn - is one of the largest exporters of semiconductors in the world, and is a key source of chips and electronic components for U.S. firms.
Keywords: sterlinghousetrust.com, Sterling House Trust, SHT
Sterling House Trust is a private trust with a difference. It offers its members an exclusive and reliable platform to access unique opportunities and lifestyle services reserved for the select few. With its team of professional managers Sterling House Trust constantly scans the markets and collaborate with reliable global partners to create a portfolio of carefully curated programmes for its members. Members can access these programmes according to their individual needs, interest and financial capacity. Sterling House Trust is headquartered in Auckland, New Zealand, and has operations based in London, UK.
The Sterling House Trust platform was established with the objective of providing its members, secure access to opportunities across a range of global locations, sectors and services.
Our unique Platform was established within the framework of a trust so that the trust would have oversight and governance over the range of services and its quality. Member protection is a core principle and drive in all that we do. Our trustees ensures that the interests and quality of service provided by the Platform are always maintained at the highest standards.
The trust and its trustees provide robust oversight and is constantly on the move to identify and shortlist select opportunities in the international markets. Likewise, we apply the same stringent standards in identifying and selecting providers and professional partners to join our Platform.
The Sterling House Trust Platform utilises our international footfall and relationships to provide our members with access to a range of international opportunities via our global network which covers a broad range of sectors including:
Asset protection, international property ownership and management, alternative and direct ownership, estate planning, banking services, foreign exchange, card services, alternative investment and lifestyle services.
New Zealand Head Office
31/335 Lincoln Road,
14-16 Dowgate Hill,
England EC4R 2SU