TAIPEI (Reuters) – Strong bipartisan political support for Taiwan in the United States could eventually lead to a free trade agreement, especially given current progress in negotiations, the chairman of the American Chamber of Commerce in Taiwan said on Thursday.
Taiwan, a major semiconductor producer, has long sought such a deal as a strong show of support for the Chinese-claimed island, which it says is a reliable partner for the United States that shares democratic values, as it faces relentless diplomatic and military pressure from Beijing.
Taiwan was excluded in 2022 from the Biden administration’s Asia-focused economic plan, the Indo-Pacific Economic Framework (IPEF), designed to counter growing Chinese influence, but Washington instead began talks with Taiwan under its “21st Century” trade initiative.
Dan Silver, chairman of the American Chamber of Commerce in Taiwan, said at the launch of the annual white paper that once a “21st Century” agreement is reached, many of the foundational elements of a free trade agreement will already have been formally agreed upon.
“Then it becomes a question of political will, and if you look at the USTR’s priorities for 2024 that were released in the first quarter, you’ll see that Taiwan is high on the agenda,” he added, referring to the office of the U.S. Trade Representative.
“We recognize that bilateral trade agreements generally do not enjoy the same level of support in Washington as they once did, and we also recognize that few countries have as much bipartisan support as Taiwan,” said Silver, who represents more than 570 companies.
“And in our view, with the ’21st Century’ initiative nearing completion and strong bipartisan support for Taiwan in Congress, a bilateral trade agreement is likely in the future.”
Beijing has denounced the “21st century” trade talks, as well as all forms of high-level talks between the United States and Taiwan, which do not have formal diplomatic ties.
Taiwan strongly rejects China’s claims of sovereignty.
(Reporting by Ben Blanchard and Michael Perry Editing)
