US to hold wide-ranging trade talks with Taiwan amid tensions with China

The U.S. and Taiwan will engage in formal trade talks, the office of the U.S. Trade Representative said. 

The talks are connected to the U.S.-Taiwan Initiative on 21st-Century Trade, which was announced on June 1 and comes amid tense U.S-China relations.  

"Today, we begin negotiations with Taiwan under the auspices of [the American Institute in Taiwan] and [the Taipei Economic and Cultural Representative Office] that will deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for our workers and businesses," said Deputy United States Trade Representative Sarah Bianchi in a statement. "We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st century economy."  

The negotiations are expected to take place this fall, USTR said. 

The agreement comes after U.S. House Speaker Nancy Pelosi made a controversial visit to the self-governing island that mainland China considers a territory.