As per the recent news, US trade officials have visited Taiwan to start off four days of negotiations over a proposed trade arrangement that has drawn resistance from the People’s Republic of China.
The meeting which is scheduled between US and Taiwanese negotiators in Taipei marks the first formal discussion over a text of a trade agreement after a beginning round of meetings in November. The discussion will be focused on proposed deals covering anti-corruption standards, trade by SMEs, administrative practices, and trade assistance.
As the U.S. and Taiwan agree in some of these areas, the two sides may declare independent arrangements regarding those subjects for what Taiwanese authorities called an “early harvest” as momentum works towards an extensive trade agreement. These two areas that have demonstrated more challenges between the US and Taiwan are - agriculture & digital trade which are likely to take longer to discuss.
The potential trade agreement between Taiwan and the US has disturbed Chinese authorities, a representative for the Chinese Embassy blamed Americans for “wrongdoings” by even arranging the deal, as per reported.
“China is consistently against any nation arranging economic and trade accords of sovereign implication or official nature with China’s Taiwan region.” as per the representative.
The PRC (People's Republic of China) considers Taiwan as a rebel, breakaway territory, irrespective of the fact that it has never ruled the democratic, self-governing island country since the Chinese Communist Party held onto control of the mainland in 1949 following a 22-year civil war. Chinese leader Xi Jinping and other senior CCP authorities have repeatedly declined to rule out the use of power to bring about Taiwan’s “reunification” with the PRC.
In a statement declaring the new round of negotiations, the US trade representative’s office noticed that the discussions with Taiwan are being executed according to the longstanding arrangements including the Taiwan Relations Act, which administers America’s unofficial diplomatic relationship with Taiwan, and one China strategy that perceives the debate between the PRC and Taiwan.
The American delegation to Taiwan for this round of trade negotiation is administered by Assistant US Trade Representative for China affairs Terry McCartin, who is accountable for developing US trade policy towards China, Taiwan, Mongolia, Hong Kong, and Macau. Authorities from other US agencies are also on the visit.
The trade negotiations are being conducted under the US-Taiwan initiative on 21st Century Trade, which encompasses 11 trade areas including areas that are considered for this negotiating round. Other affairs covered by the arrangement include labor and environmental parameters and resolving trade disruptions caused by state-owned corporations.
A potential trade agreement between the US and Taiwan would turn out to be a bilateral companion to the Indo-Pacific Economic Framework for Prosperity the Biden management declared over the summer with a dozen nations in the area.