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Taiwan Free Trade Agreements Us

But Taiwan is active this week in Washington and is participating in several dialogues that could lay the groundwork for a long-discussed free trade agreement with the United States. Even if Taiwan could push forging a trade pact with Trump officials, there are signs that a Biden administration will support continued trade talks with Taiwan. At present, about half of Taiwan`s trade with China or Hong Kong, as well as up to 80% of its investments, are overconcentrating economic activity. The United States can offer another way. Taiwan`s Ministry of Economy has prepared a position paper (see below) to promote the signing of a free trade agreement with the United States, including research and development, cooperation and technology transfer. One of the U.S. A study by the International Trade Commission in October 2002 concluded that a free trade agreement between Taiwan would significantly benefit U.S. exports of motor vehicles, rice, fish and other foodstuffs, but would have little impact on the United States. In the economy as a whole. China has recently overtaken the United States as Taiwan`s top export market. Whether in banking, trade negotiations or e-commerce, my professional life helps companies win in new markets, with a particular focus on China.

As CEO of Export Indeed, the main obstacle to a U.S.-Taiwan trade deal over the years has not been trade considerations, but a lack of political will. Heads of State and Government, both in Washington and Taipei, were unnecessarily concerned about the impact of such a measure on their cooperation with China, nor did they have confidence in each other`s commitment to the enterprise. This happened for nearly two decades in a long drama of low-stakes, the art of the chicken-and-egg game, which always took place at a younger bureaucratic level and focused on the first party that was going to act – Taiwan announced changes in its monstrous rules on importing pork and beef or the United States publicly committed to discussing a comprehensive agreement. As President Tsai told a CSIS delegation in Taipei in January, the time has come to break this deadlock. A friend of the Taiwanese government said the island could lose competitiveness if it was excluded from trade deals. Taiwan is not part of ASEAN and its participation in regional or bilateral trade agreements can be easily blocked by China. Taiwanese companies need an international trade gateway. All speakers agreed that there would be benefits for both sides if the U.S. and Taiwan concluded a free trade agreement (FTA), but they also found that China`s current opposition to such negotiations remains a major obstacle.

We need to find a creative way to show China that it too could benefit from such a free trade agreement. Nearly two decades later, this year`s revival is mainly driven by a broader shift in mindset in Washington regarding U.S.-China relations, characterized by the U.S.`s general desire to increase its influence over China for broader “strategic competition” between the two powerful nations. Proponents are now pointing to the economic and geopolitical benefits of a closer trade and investment relationship between the U.S. and Taiwan. Any type of bilateral trade or investment agreement is primarily about Taiwan`s political position vis-à-vis China and the rest of the world. . . .