United States Trade Representative (USTR) Katherine Tai told an investment summit on Tuesday that the U.S. would aim to reach “high-standard commitments” on trade issues with Taiwan through a newly launched joint initiative.

“Our next steps include developing and agreeing on a roadmap for negotiations so we can reach high-standard commitments and outcomes in key areas,” Tai said of the U.S.-Taiwan Initiative on 21st Century Trade during her remarks at the 2022 SelectUSA Investment Summit.

The high-profile event, dedicated to promoting foreign direct investment, is being held by the U.S. Department of Commerce and the International Trade Administration in the state of Maryland from June 26-29.

According to USTR, Washington and Taipei will focus their negotiations on 11 areas, including trade facilitation, regulatory practices, agriculture, and anti-corruption, among others, under the joint initiative launched on June 1.

The initiative was unveiled about one week after Taiwan was excluded from participating in the Indo-Pacific Economic Framework, a multilateral partnership led by the U.S. and seen by some to serve as a potential bulwark against China’s growing economic and political influence in the region.

The U.S. is “developing concrete, meaningful ways to strengthen our trade and investment relationship with Taiwan,” Tai said, adding that this relationship was rooted in shared values and a joint commitment to promote inclusive economic growth that would benefit workers and businesses.

Tai’s remarks came one day after Taiwanese officials and their U.S. counterparts held the inaugural meeting under the joint initiative, which Deputy United States Trade Representative Sarah Bianchi said would “unlock market opportunities, promote innovation and create inclusive economic growth for our workers and businesses.”

Commenting on that meeting between Taiwanese and U.S. officials, Taiwan’s National Development Council (NDC) Minister Kung Ming-hsin (???), who is on an 11-day visit to the U.S., said Tuesday that though he did not attend the meeting, he saw it as “a good start” for both sides to bring their trade relationship a step forward.

Kung is leading a delegation to meet with U.S. government officials and tech giant representatives while taking part in the 2022 SelectUSA Investment Summit.

According to the NDC, the delegation departed for the U.S. on June 18 and visited San Francisco and Seattle before traveling to Washington, D.C.

Source: Focus Taiwan News Channel