The United States and Taiwan have concluded negotiations on a trade agreement to deepen economic ties amid growing tensions between Washington and Beijing. ManilaBulletin
WASHINGTON, United States | - - The United States and Taiwan have concluded negotiations on a trade agreement to deepen economic ties amid growing tensions between Washington and Beijing.
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 has long-claimed as part of its territory. Beijing has in recent years stepped up its threats and rhetoric against Taiwan, increasing military drills in the seas around the island and working to cut off its official ties with countries around the world.
The first agreement under the initiative will allow American businesses "to bring more products to Taiwan and Taiwanese customers, while creating more transparent and streamlined regulatory procedures that can facilitate investment and economic opportunities in both markets, particularly for small- and medium-sized enterprises," the statement said.
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