TAIPEI (Taiwan News) — Taiwan and the U.S. began a new round of trade negotiations under the Taiwan-U.S. Initiative on 21st Century Trade on Monday (April 29) in Taipei.
Deputy Trade Representative Yang Jen-ni (楊珍妮) is leading the Taiwanese delegation, which includes officials from the ministries of agriculture, economic affairs, environment, and foreign affairs, according to the Ministry of Foreign Affairs (MOFA). The U.S. delegation is led by Assistant U.S. Trade Representative Terry McCartin, who is accompanied by the American Institute in Taiwan and other government officials.
Over five days, the two sides will discuss issues in “agricultural innovation, food security and market entry, clean energy development and environmental protection, and labor rights protections,” the ministry said
MOFA said Taiwan's exports to the U.S. grew to a record high of US$24.6 billion (US$ 754.53 million) in the first quarter of 2024. Last year, it exported mostly computers and related parts and semiconductor devices to the U.S., while the major American exports to Taiwan were airplanes, relevant equipment, and computer components.
The two nations signed the first agreement under the 21st-century trade initiative in June 2023. The deal covered customs administration, trade facilitation, and good regulatory practices.
Taiwan's top trade negotiator John Deng (鄧振中) said the trade agreement is the first result of “the most wide-ranging and comprehensive trade negotiations conducted by Taiwan and the U.S. since 1979,” per the Cabinet.