The US-Taiwan Initiative on 21st Century Trade looks to boost trade by streamlining customs checks, improving regulatory procedures, and establishing anticorruption measures between the United States and the self-governing island of Taiwan, which China claims as part of its territory. The pact is "intended to strengthen and deepen the economic and trade relationship" between both sides, USTR spokesperson Sam Michel added in a statement. "Relevant tasks are yet to be completed.... Taiwan will continue to move towards a comprehensive FTA (free trade agreement) with the United States to ensure Taiwan's economic security," he added. Taiwan's government has described the deal as "the most comprehensive" trade agreement signed with Washington since 1979. The United States "must not send the wrong signals to Taiwan independence forces in the name of trade," foreign ministry spokeswoman Mao Ning told a media briefing.

Source: Daily Nation June 02, 2023 06:04 UTC