Officials said the new discussions will “explore concrete ways to deepen U.S.-Taiwan trade and investment relations,” with a focus on institutionalizing cooperation in supply chain resilience, labor, the environment and sustainable development.
An official announcement will come after “the coordination and consultations are conducted,” according to a senior official.
CNN is contacting the White House for comment.
A senior official also told CNN Friday that Taiwan may send a delegation to the SelectUSA summit in Maryland in June. The summit facilitates foreign trade investment in the United States.
IPEF is not a trade agreement in the traditional sense. It includes one “pillar” related to trade, but also includes other areas such as making supply chains more resilient, promoting clean energy, and fighting corruption.
The countries participating in the IPEF are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam, along with the United States.
“The future of the twenty-first century economy will be written largely in the Indo-Pacific,” Biden said as he launched the plan.
Rui Lee, executive vice president of the Chung Hwa Foundation in Taiwan, told Economic Research.
“Some countries have indicated that the inclusion of Taiwan will promote [the IPEF’s] efficiency, but there were concerns that China would view these countries as picking a side.”
Deserves At nearly $500 billion, TSMC is one of the most valuable companies in Asia, accounting for 90% of the world’s high-end chips.
Rising tensions between the United States and China
The autonomous island of 24 million people has faced increasing military aggression from China in recent months. The Communist authorities in Beijing acquired Asia’s seventh largest economy as part of their territory, although they had never ruled it.
Taiwan has emerged as one of the central issues between China and the United StatesAnd the Biden’s tour of Asia this month centered around Beijing growing influence in Region.
On Monday, Biden said the United States would intervene militarily if China tried to seize Taiwan by force – in what appeared to be a strong warning to Beijing not to copy Russia’s invasion of Ukraine.
Beijing reacted angrily, calling on Washington to “be careful in words and deeds on the Taiwan issue.”
Last Friday, Taiwan’s chief trade negotiator John Deng held a bilateral meeting with US Trade Representative Catherine Taye in Thailand, during which they agreed to explore ways to deepen trade ties and meet again in the coming weeks to discuss the path forward, according to a readout statement. From the Office of the United States Trade Representative.
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