U.S., Taiwan to start formal trade talks under new initiative

The United States and Taiwan have agreed to start trade talks under a new initiative to reach agreements with "economically meaningful outcomes", with a Taiwan official saying China's "economic coercion" would also be discussed.

Washington and Taipei unveiled the U.S.-Taiwan Initiative on 21st-Century Trade in June, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan designed to counter China's growing influence. 

The office of the U.S. Trade Representative said the two sides had "reached consensus on the negotiating mandate" and it was expected that the first round of talks would take place early this autumn.

"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," Deputy United States Trade Representative Sarah Bianchi said in a statement.

Taiwan's top trade negotiator, John Deng, told reporters in Taipei he hoped talks could start next month, and that this could one day lead to a free trade deal the island has long sought with the United States.