U.S., Taiwan Reach Agreement on U.S.-Taiwan 21st Century Trade Initiative Negotiations

USINGLEAGUE 2.0

 

U.S. Trade Representative Katherine Tai announced on Thursday (May 18) that the U.S. and Taiwan had completed the 21 Negotiations of the Century Trade Initiative.

Areas covered by the first agreement under this initiative include customs management and trade facilitation, good regulatory practices, domestic regulation of services, anti-corruption and small and medium-sized enterprises. The statement from the USTR said that through the terms of the agreement, U.S. companies will be able to bring more products into Taiwan and Taiwanese customers, while establishing a more transparent and streamlined regulatory process that can facilitate investment and economic opportunities in both markets , especially for small and medium-sized enterprises to bring convenience. Once signed, the agreement will deepen the trade partnership and strengthen the flow of trade between the United States and Taiwan, drive innovation, and foster inclusive economic growth that benefits both workers and companies, USTR said.

U.S. Trade Representative Dai Qi said in a statement: