Free Trade Agreement Taiwan



-December 9, 2020-

Free Trade Agreement Taiwan

Mike Burroughs

Nearly two decades later, this year`s recovery is mainly fueled by a broader shift in Washington`s mindset regarding U.S.-China relations, characterized by the U.S. general desire to increase its influence over China for greater "strategic competition" between the two powerful nations. Supporters now point to the economic and geopolitical benefits of a closer trade and investment relationship between the United States and Taiwan. Has the bilateral environment for a free trade agreement between Taiwan and the United States ever been stronger? At least half of the U.S. Senate thinks the time has come and sends a joint letter to U.S. Trade Representative Bob Lighthizer asking him to start negotiations. The Comprehensive Regional Economic Partnership (RCEP) covers all 10 ASEAN members, as well as Australia, New Zealand, Japan, South Korea and China. The presence of taiwan`s foreign ministry at the RCEP, Taiwan`s foreign ministry said on Sunday, without Taipeh being able to accede to the free trade pact. Taiwan on Sunday reiterated its desire to join the CPTPP and negotiators are in Washington this week to develop a possible free trade agreement with the United States. In August, Tsai said Taiwan would ease restrictions on U.S.

imports of pork and beef, which were seen as the main obstacle to a trade agreement between the two countries. Taiwan had blocked the importation of certain meat products containing ractopamine, an animal feed additive that is banned in most countries. Whether in banking, trade negotiations or e-commerce, my professional life helps companies open up new markets, with a particular focus on China. As CEO of Export Now, I lead the largest international company in Chinese e-commerce. Previously, I was Undersecretary of State for International Trade at the U.S. Department of Commerce. Before that, I was the U.S. Ambassador to Singapore. Previously, I worked in Hong Kong and Singapore at Citibank and Bank of America, as well as at the White House and the National Security Council. New market book: amzn.to/2py3kqm WwII History Book: amzn.to/2qtk0wK (This agreement was marked by SICE in HTML. A PDF version can be find here.) Many of the key economic considerations for a comprehensive trade agreement with Taiwan are firmly in place.

Taiwan is the 14th largest export market for U.S. products and the eighth largest market for agricultural products. It has a strong rule of law and admirable public transparency and, more often than not, reasonable rules on trade and investment. Taiwan`s average tariff is 2% - much like in the U.S. - but it has relatively high tariffs (9%) agriculture, which means that an agreement could lead to a sharp increase in U.S. agricultural exports. Taiwan`s Foreign Ministry also said Sunday that it would continue its initiative to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) agreement, an agreement that grew from the Trans-Pacific Partnership (TPP) abandoned after the United States withdrew from the agreement. Indeed, over the years, the main obstacle to a trade agreement between the United States and Taiwan was not a commercial consideration, but a lack of political will.


SHARE THE ARTICLE
click below to share with friends and social networks
Facebook Twitter Tumblr Stumbleupon Reddit Email







DISCUSS THE ARTICLE
Leave a comment and participate in the discussion.
Social links powered by Ecreative Internet Marketing