Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Taiwan says to hold more trade talks with United States

Published 05/31/2022, 10:44 PM
Updated 05/31/2022, 10:47 PM
© Reuters. FILE PHOTO: Taiwanese Executive Yuan Minister John Deng speaks during an interview with Reuters in Taipei, Taiwan September 15, 2017. Picture taken September 15, 2017.   REUTERS/Tyrone Siu

TAIPEI (Reuters) - Taiwan's chief trade negotiator, John Deng, will hold more talks with the United States on bilateral trade on Wednesday, the island's government said, after being excluded from a major new U.S. economic plan for the Asia Pacific region.

Deng has pushed strongly for Taiwan to be included in the Indo-Pacific Economic Framework, or IPEF, one part of the U.S. administration's effort to counter what it says is Beijing's increasing economic and military coercion in the region.

However, Taiwan was not included when the United States announced details of its formation last week, with Taipei expressing "regret" at the decision.

Taiwan Cabinet Spokesman Lo Ping-cheng told reporters that Deng would be holding online talks with Sarah Bianchi, one of U.S. Trade Representative Katherine Tai's deputies, on Taiwan-U.S. trade issues.

Further details would come later, Lo added.

Deng and Tai met virtually in April, where Deng again expressed Taiwan's desire to join the IPEF.

China is not a member of the grouping, whose initial founders include the United States, Australia, Brunei, Indonesia, Japan, New Zealand, Singapore, South Korea, Thailand and Vietnam.

The United States is Taiwan's most important international supporter and arms supplier, and Taipei has been keen to show the importance it attaches to their trade relationship, especially on the crucial supply of semiconductors.

© Reuters. FILE PHOTO: Taiwanese Executive Yuan Minister John Deng speaks during an interview with Reuters in Taipei, Taiwan September 15, 2017. Picture taken September 15, 2017.   REUTERS/Tyrone Siu

China has condemned the U.S. Indo-Pacific push, saying the United States is creating "exclusive clubs".

China views Taiwan as its territory with no right to the trappings of a state, and Chinese pressure means the exclusion of Taiwan from most international bodies like the United Nations.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.