Tariff Free Trade Corridor between Taiwan and the U.S.
Taiwan has had to face too much pressure from China as China is creating hurdles in Taiwan’s trades. Resultantly, the state is forced to look into other options so as to avoid the pressure from China.
Taiwan is in a position to improve its trade relations with the United States of America after the US elections. It was during the Trump regime that the trade between the two countries came to a stand-still. However, there was apparently nothing between the two countries that may have offended each other except for the China element. Both China and the US are in a trade war and those who are China’s friends are rivals of the US. Similarly, friends of the US are foes of China.
Mr. John Deng, the man incharge of Taiwan’s trade negotiation delegation, informed having a meeting with the US delegation of trade. He confessed that he emphasized the tariff-free trade deal during his meeting with the US officials.
He clearly mentioned that Taiwan plans to share a tariff-free trade corridor with the U.S despite all Chinese pressure against the island. The meeting continued with the official for a span of eight hours, and the primary agenda of the meeting was to improve trade relations between the two states.
Deng said that he expressed in the meeting U.S represents that Taiwan desires to sign a trade agreement with all the primary requisites discussed in the meeting. He further added, “I firmly believe that if we carry on with the efforts put in by the State officials, our objectives could be achieved very soon”.
Words from the U.S trade agency have also been recorded stating “Both sides discussed all issues in detail to combat and come up with a better strategy for tariff-free trade”.
Parties discussed working on the security and surveillance system in concern to trade matters. While discussing this hot topic it was also considered that the Taiwan market is not accessed with American beef and pork, this being in demand by Taiwan purchasers, American beef and pork producers will be benefitted from these free trade deals as well. No doubt this news created a potential interest for all the beef and pork producers in the U.S.
It was also talked over by the representation of Taiwan, that considering the current COVID-19 a trade deal for the concerned vaccine shall also be a matter of concern. A mutual emphasis should be on its production and sharing.
China being the second world power has affected Taiwan in many ways globally. States sharing cordial relations with China fear free trade deals with Taiwan due to Chinese pressure, countries like Singapore and New Zealand are one of them. This has affected the overall trade activity of Taiwan which now the state wants to revive by increasing tariff-free trade with one of the world’s superpowers USA.
Taiwan showed a friendly move by lifting the ban on the import of pork and removing a major obstacle for trade between the US and Taiwan.