Published Date: 2021-06-30
Taiwan and the
United States have started trade talks again after a five-year hiatus.
Representatives from both sides held a virtual meeting on Wednesday under the
aegis of a bilateral Trade and Investment Framework Agreement signed in 1994.
This is the
eleventh round of talks held under the aegis of the agreement. The most recent
was held in 2016. The Trump administration then suspended talks in 2017,
reportedly due to Taiwanese restrictions on imports of certain US agricultural
products.
Wednesday’s
meeting focused on eleven areas of bilateral economic ties: intellectual
property, digital trade, medicine and medical supplies, streamlining bilateral
trade, legal transparency, investment, supply chains, non-market economies,
financial services, environmental protection, and workers’ rights.
In the area of
supply chains, the two sides discussed increased cooperation and durability.
One of Taiwan’s major exports, semiconductors, is among the goods the US
government has previously listed as key goods.
Meanwhile, in the
area of medicine and medical equipment, the two sides discussed simplifying
import and export procedures for vaccines and other medical supplies.