The US and Taiwan have unveiled a new trade initiative, Taiwan's trade representative announced, after Taiwan was excluded from the US Indo-Pacific economic initiative that President Biden formally announced in Asia last week
The new initiative -- the US-Taiwan Initiative on 21st Century Trade -- marks the official launch of trade negotiations between Taiwan and the US. It is a precursor to signing a free trade agreement, Taiwan's trade representative John Deng said at a news conference on Wednesday.
"Key areas for our negotiations include trade facilitation, regulatory practices, agriculture, anti-corruption, supporting our small and medium sized enterprises, outcome on digital trade, labor rights, the environment, standards, state owned enterprises and non-market practices and policies."The talks come after Biden unveiled his long-awaited Asian economic plan in a speech in Tokyo -- the Indo-Pacific Economic Framework for Prosperity, or IPEF -- which includes 13 partner countries.
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