US and Taiwan to carry second spherical of financial dialogue

Economic dialogue launched final 12 months amid growing strain on Taiwan from China.

The United States and Taiwan subsequent week will maintain the second session of an financial dialogue launched final 12 months within the face of accelerating strain on the island from China, the State Department mentioned.

The announcement on Friday comes days after a digital assembly between US President Joe Biden and Chinese chief Xi Jinping. After the assembly, Xi warned that supporters of Taiwanese independence within the US had been “playing with fire”.

A State Department assertion mentioned the US Under Secretary for Economic Growth, Energy and the Environment, Jose Fernandez, will lead the second US-Taiwan Economic Prosperity Partnership Dialogue on Monday.

It mentioned the dialogue can be performed underneath the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office (TECRO) within the US, which act as respective unofficial embassies.

“Our partnership is built on strong two-way trade and investment, people-to-people ties, and in common defence of freedom and shared democratic values,” the assertion mentioned.

Taiwan’s Foreign Ministry mentioned the digital assembly can be led from its aspect by Economy Minister Wang Mei-hua and Science and Technology Minister Wu Tsung-tsong.

Taiwan hopes the dialogue might lead finally to a free commerce settlement  (FTA) with the US and hailed final 12 months’s inaugural assembly as a step ahead.

It was a part of elevated US engagement with Taipei underneath former President Donald Trump that the Biden administration has continued, to the anger of Beijing, which claims Taiwan as its personal.

The two sides held long-delayed talks on a Trade and Investment Framework Agreement just about in July, and Taiwan mentioned it hoped it could be potential to signal a FTA someday.

Last 12 months, Taiwan’s authorities lifted a ban on the import of pork containing a leanness-enhancing additive, ractopamine, eradicating a giant stumbling block to a take care of Washington, however is because of maintain a referendum on the problem in December.

Taiwan is a principal producer of semiconductors, a scarcity of which has roiled provide chains globally and affected automakers particularly, regarding Washington, which has pressed Taiwan to hurry up chip manufacturing.