The United States and Taiwan reached an agreement on the first part of the 21st Century Trade Initiative of the United States and Taiwan. The agreement covers customs and border procedures, regulatory practices, and small enterprises.
Reuters reports that the US Trade Representative Office issued a statement on Thursday (May 18) saying that after signing a preliminary agreement for the 21st Century Trade Initiative of the United States and Taiwan, the United States and Taiwan will begin other more complex trading fields, including agriculture and digital trade, Labor and environmental standards, state -owned enterprises and non -market policies and practices, negotiate.
US trade representative Dai Qi said in a statement that the agreement consolidated the US -Taiwan relations and proved that the two parties could work together to promote the priority of trade in the people in the United States and Taiwan.
Dai Qi said: We look forward to continuing (with Taiwan) to negotiate and finally finalize a strong high -standard trade agreement to cope with the economic challenges of the 21st century.
The agreement is expected to not change the tariffs of the product, but the supporters of the agreement said that it will strengthen the economic connection between the United States and Taiwan, expand the US exports to Taiwan, and enhance Taiwan's ability to resist China's economic coercion.
