According to media news on June 2, Washington and Taipei would “move quickly to develop a roadmap” for the planned U.S.-Taiwan Initiative on 21st-Century Trade in the coming weeks, followed by in-person meetings in the U.S. capital later in June.
Reportedly, the initiative will aim to “reach an agreement with high standard commitments that create inclusive and durable prosperity” on issues that include customs facilitation, fighting corruption, common standards on digital trade, labor rights, high environmental standards, and efforts to curb state-owned enterprises and non-market practices.
The bilateral initiative, in some ways, parallels U.S. President Joe Biden administration’s Indo-Pacific Economic Framework (IPEF). Matthew Goodman, a trade expert at the Center for Strategic and International Studies in Washington DC, indicated that the U.S. government may see the initiative as a possible parallel path to participating in the IPEF. Miles Guo had stated in the Grand Live Broadcast on May 24 that the U.S. would also add Taiwan to Asia’s mini-NATO and include Taiwan in the IPEF following a radical change in its ambiguous policy towards Taiwan.
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