US and Taiwan announce official bilateral trade talks
US-Taiwan to begin trade talks.
Weeks after Nancy Pelosi, Speaker of the US House, made a contentious visit to Taiwan, the US has stated that formal trade talks will soon begin with Taipei.
The Office of US trade representative said that the first round of bilateral talks would start in "early September."
Trade facilitation, digital trade, and anti-corruption standards will all be topics of discussion. Since Pelosi's Taiwan visit, ties between the US and China have become more tense.
Both parties now claim they have "reached accord on the negotiation mandate" for the US-Taiwan Initiative on 21st Century Trade, which was first introduced in June.
The deputy US trade representative, Sarah Bianchi, saidin a statement, "We plan to pursue an ambitious timeline... that will help construct a fairer, more affluent and resilient 21st century economy."
As reported by the BBC, nearly $106 billionin 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.
The autonomous island is seen by Beijing as its own renegade area that needs to be merged with the mainland. However,Taiwan, a self-governing island, perceives itself as separate from the mainland.
Separately, 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."
(With inputs from agencies)
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