U.S.-Taiwan to sign off on agreements based on Initiative on Trade

Wed, 04 Oct 2023

U.S.-Taiwan to sign off on agreements based on Initiative on Trade

Robert Besser
06 Jun 2023, 15:40 GMT+10

Taiwan and the United States are set to sign the first deal under a new trade framework, marking a significant step in strengthening their ties
The trade talks, initiated through the U.S.-Taiwan Initiative on 21st Century Trade, were launched last August after Taiwan was excluded from the larger Indo-Pacific Economic Framework
The agreement, to be signed in Washington, focuses on customs and border procedures, regulatory practices, and small businesses

TAIPEI, Taiwan: Taiwan and the United States are set to sign the first deal under a new trade framework, marking a significant step in strengthening their ties.

The trade talks, initiated through the U.S.-Taiwan Initiative on 21st Century Trade, were launched last August after Taiwan was excluded from the larger Indo-Pacific Economic Framework.

The agreement, to be signed in Washington, focuses on customs and border procedures, regulatory practices, and small businesses. Future negotiations will cover areas such as agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies.

While an agreement is not expected to impact tariffs, it aims to expand economic cooperation and bolster Taiwan's resilience against economic pressure from China.

Notably, Beijing has consistently opposed such engagements, asserting its claim over Taiwan. Despite this, Taiwan remains firm in rejecting China's sovereignty claims, which have been accompanied by increased military activities in the region.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Leeds Times.

More Information

12 ℃

Partly Cloudy in Leeds

Europe

Section

New trade rules confirm Northern Ireland has sea border: DUP MP

DUBLIN, Ireland: A Democratic Unionist Party (DUP) MP, Sammy Wilson, has asserted that implementing a vital component of the Windsor ...

Ireland opposes imposing limits on nitrate fertilizer for farmers

DUBLIN, Ireland: Ireland is gearing up for a challenging fight to secure a nitrates derogation for its farmers, avoiding the ...

Swedish minister stopped at Ukrainian border

Foreign Minister Tobias Billstrom reportedly forgot his passport and could not travel to a summit in KievSwedish Foreign Minister Tobias ...

UK to finally scrap EU bendy bananas rule

Brussels? bizarre food standards were ridiculed by British conservatives in the runup to the Brexit voteThe British government will ditch ...

Golf Glance: Ryder Cup star Ludvig Aberg seeks maiden PGA Tour title

(Photo credit: Kyle Terada-USA TODAY Sports) Field Level Media's Golf Glance provides weekly news and storylines from each of the ...

Turkish inflation keeps rising, adding burden to ordinary Turks

© Provided by Xinhua by Burak AkinciANKARA, Oct. 3 (Xinhua) -- Türkiye's annual inflation climbed to more than 60 percent ...

International

Section

Drought compels Panama Canal to reduce ships passing through to 31

PANAMA CITY, Panama: On September 30, the Panama Canal said that due to a drought that has reduced the supply ...

First flight from Libya to Italy in 10 years, takes off from Tripoli

TRIPOLI, Libya: Italy and Libya resumed commercial flights for the first time in ten years on September 30, with flight ...

Maine fire destroys Jamie Wyeth paintings, guts historical buildings

SAINT GEORGE, Maine: A fire destroyed several waterfront buildings in Maine on September 29, including an art gallery with several ...

ASEAN leadership: Members refuse Myanmar's leadership in 2026

JAKARTA, Indonesia - According to Asian diplomats and the Philippines' president, Southeast Asian leaders have decided that Myanmar will not ...

New video taken in Pacific shows 3 sunk WWII aircraft carriers

NEW LONDON, Connecticut: Video footage taken deep in the Pacific Ocean provided the first detailed view of three World War ...

Annual bison roundup conducted at Custer State Park, South Dakota

CUSTER STATE PARK, South Dakota: As part of an annual effort to maintain the health of the species, which has ...

Movie Review

Elle