The US announces negotiations for an economic pact with Taiwan in full tension with China

In the midst of the visit of the president of the House of Representatives, Nancy Pelosi, to Taiwan, the United States Government announced yesterday an agreement to negotiate a broad trade and investment pact with the island.

“The negotiating mandate announced today sets out the general objectives shared by both parties for the upcoming trade negotiations.

The first round of negotiations is expected to take place early this fall," said a statement issued by the United States Trade Representative.

Although on June 1 the United States and Taiwan already announced their intention to develop an ambitious roadmap for the negotiations, the agreement to start talks comes at a time of high tension with China.

The Beijing government responded to Pelosi's visit with the largest military maneuvers in its history around Taiwan.

A subsequent visit by other congressmen was also answered with new maneuvers.

The United States and Taiwan have established a broad negotiating agenda on trade facilitation, good regulatory practices, strict anti-corruption standards, improving trade between small and medium-sized enterprises, deepening agricultural trade, eliminating discriminatory barriers to trade , digital trade, labor and environmental standards, as well as “ways to address the distorting practices of state-owned companies and non-commercial policies and practices”, a reference to the latter that seems directed at China.

In the document in which the agreement of this Wednesday has been reflected, that point is developed by pointing out the state and state-controlled companies and the monopolies designated by the Government.

The two countries will seek to correct these distortions “including by adopting provisions aimed at creating a level playing field for workers and companies when they compete with these entities in the international market, among other things by ensuring that these entities act in a commercial manner, are regulated impartially and do not provide or receive non-commercial aid that distorts trade”.

"The negotiation will deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses," said Deputy US Trade Representative Sarah Bianchi. , in the statement.

"We plan to follow an ambitious timetable to deliver high-level commitments and meaningful results across all eleven trade areas of the negotiating mandate that will help build a fairer, more prosperous and resilient 21st century economy," she added.

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