Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Blinken signals possible resumption of U.S.-Taiwan trade, investment talks

EconomyJun 07, 2021 05:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. REUTERS/Tyrone Siu

By David Brunnstrom

WASHINGTON (Reuters) -U.S. Secretary of State Antony Blinken on Monday signaled a possible resumption of trade and investment talks with Taiwan stalled since the Obama administration, but gave no indication of any willingness to pursue a full-scale trade pact Taipei has been seeking.

At a House Foreign Affairs Committee hearing on the U.S. State Department's annual budget request, Blinken was asked about the Biden administration's position on a bilateral trade agreement with Taiwan.

"I'd have to refer you to Katherine Tai, the U.S. Trade Representative, but I know we are engaged in conversations with Taiwan, or soon will be, on some kind of framework agreement, and those conversations should be starting."

Any such agreement is likely to irritate China, which claims Taiwan as its own territory.

Asked about Blinken's comment, a spokesperson for the U.S. Trade Representative's office said, "the United States believes it is important to continue strengthening our bilateral trade relationship with Taiwan," but added: "we have no meetings to announce at this time."

A spokesman for Taiwan's representative office in Washington said: "We are working to engage in discussions with USTR, which will hopefully lead to progress in our bilateral trade relationship."

Bonnie Glaser, a Taiwan expert at the German Marshall Fund of the United States, said Blinken's comment was a signal Washington was likely to move forward with a resumption of Trade Investment Framework Talks (TIFA) with Taiwan that have not been held since the Obama administration.

She said the administration had probably not made a decision on whether to take the much larger step of pursuing a bilateral trade agreement with Taiwan, however.

"Senior Biden administration officials have been encouraging USTR Tai to hold a round of the TIFA talks, and Taipei is eager to do this as soon as possible," Glaser said.

She said Taiwanese President Tsai Ing-wen was keen to show some progress on trade talks with the United States ahead of an August referendum that could reverse her January decision to lift remaining restrictions on imports of U.S. pork and beef.

TIFA talks stalled after former President Barack Obama left office in 2016 and his successor Donald Trump’s trade representative, Robert Lighthizer, focused on trade talks with China.

Glaser said China would likely criticize a TIFA resumption out of concern that the talks could eventually lead to a free trade agreement and embolden other countries, such as Britain, to launch trade negotiations with Taiwan.

"China also will see such talks as part of a Biden strategy to strengthen ties with Taiwan and what they see as a diminishing U.S. commitment to One China," she said, referring to the long-standing U.S. policy of recognizing Beijing rather than Taipei.

Blinken signals possible resumption of U.S.-Taiwan trade, investment talks
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email