Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

US-Taiwan trade talks could outpace Indo-Pacific effort -USTR official

by
June 3, 2022
in Investing News
0
US-Taiwan trade talks could outpace Indo-Pacific effort -USTR official
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

WASHINGTON – New U.S. trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo–Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S. Trade Representative Sarah Bianchi said on Thursday.

There are parallels between the newly launched Indo–Pacific Economic Framework talks and the Taiwan talks, Ms. Bianchi told Reuters in an interview, but the latter initiative is aimed at increasing links with Taiwan on specific economic issues.

“I think we are eager to get going with Taiwan and to scope out our negotiating mandate there and … a range of issues from small-medium enterprises to digital trade to labor and we look forward to getting going as quickly as possible,” Ms. Bianchi said.

Asked if the Taiwan initiative could bear fruit sooner then the Indo–Pacific Economic Framework (IPEF) talks, she said: “Potentially yes, it could.”

The Chinese-claimed island was excluded from the 14-country IPEF initiative launched last week by President Joe Biden. However, USTR announced separate, bilateral trade talks with Taiwan on Wednesday.

IPEF, which seeks to return an economic pillar to U.S. engagement in the region, will include Japan, India, South Korea, Indonesia, Vietnam, Australia and other countries in the region, but not China.

Ms. Bianchi said IPEF would also get started right away, with plans for discussions, including ministerial-level meetings in coming months to organize the topics for the talks and to begin proposing texts for an agreement by the end of the summer.

CHOOSING PILLARS

The IPEF talks will allow member countries to choose among the key “pillars” in which they will participate, including digital trade rules, supply chain resiliency and trade facilitation, infrastructure development and strong labor rights and environmental standards.

But participation in all pillars is not required, and initial meetings will focus on defining which ones countries will choose, Ms. Bianchi said. Countries that choose only one or two can still have meaningful engagement with the United States and other IPEF members, she said.

Neither the IPEF nor the Taiwan talks will include the tariff reductions and enhanced market access offered by traditional free trade agreements.

Ms. Bianchi said IPEF is meant to be a “21st century agreement to really address 21st century problems,” including barriers to digital trade such as data localization requirements or onerous regulations that make it difficult for companies to operate in some countries. Fixing these problems will also enhance market access, she said. – Reuters

ShareTweetPin

Related Posts

BIR to pursue rightsizing
Investing News

BIR to pursue rightsizing

August 19, 2022
BoP deficit hits $1.82 billion in July
Investing News

BoP deficit hits $1.82 billion in July

August 19, 2022
PDP preliminary framework unveiled
Investing News

PDP preliminary framework unveiled

August 19, 2022
BSP to respond, but not match Fed rate hikes
Investing News

BSP to respond, but not match Fed rate hikes

August 19, 2022
Big data to expedite PHL post-pandemic recovery — ADB
Investing News

Big data to expedite PHL post-pandemic recovery — ADB

August 19, 2022
Globe bags UN SDG Award for ‘People’ in 1st SDG Awards in the Philippines
Investing News

Globe bags UN SDG Award for ‘People’ in 1st SDG Awards in the Philippines

August 19, 2022
Next Post
Biden says ‘Enough!’ on gun violence, demands action from Congres

Biden says ‘Enough!’ on gun violence, demands action from Congres

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Regional Updates (01/17/21)

Regional Updates (01/17/21)

January 17, 2021
China October exports surge, imports rise amid global recovery

China October exports surge, imports rise amid global recovery

November 7, 2020

Mastercard Q3 Profit, Revenue Fall as Pandemic Cuts Travel

October 28, 2020

From Black Friday to the Festive Season: 8 tips for small businesses to stand-out

November 26, 2021
Bank of Korea Stands Pat on Rates After Emergency Action

Bank of Korea Stands Pat on Rates After Emergency Action

April 9, 2020
Holiday shopping with crypto payment methods

Holiday shopping with crypto payment methods

January 22, 2021
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.