In August, the U.S. and Taiwan agreed on a formal mandate to start negotiations on a written, bilateral trade and economic agreement, according to CNBC.
The background: In June, Washington and Taipei announced the U.S.-Taiwan Initiative on 21st-Century Trade. With a formal negotiating mandate, negotiations are expected to start in the months ahead.
- The new mandate centers text-based negotiations on 11 topics, such as “trade facilitation, good regulatory practices and removing discriminatory barriers to trade.”
- Read the formal announcement from the Office of the United States Trade Representative here.
Why it matters: The U.S. is interested in using the conversations to advance American economic interests and support a strong global economy—at a time when USTR is signaling that it is not seeking traditional trade agreements.
Our take: “Manufacturers support robust U.S. economic engagement in the Indo-Pacific, a region that represents more than two-fifths of total U.S. manufacturing trade,” said NAM Director of International Trade Policy Maria Sierra.
- “As negotiations begin under the new U.S.-Taiwan Initiative, manufacturers continue to call for new agreements that will open markets for U.S.- manufactured exports, eliminate barriers and set strong trade rules with trade partners in this critical region.”