The United States and Taiwan have signed a new trade agreement, despite opposition from China. The deal, which was signed on August 28, 2020, is expected to strengthen economic ties between the two countries and boost trade in a number of key sectors.
The agreement, known as the “Economic Prosperity Partnership Dialogue,” covers a wide range of issues, including intellectual property rights, investment, and market access. It also includes provisions aimed at promoting small and medium-sized enterprises (SMEs) and improving the digital economy.
The signing of the agreement has been hailed as a major step forward for Taiwan, which has long sought to deepen its economic ties with the United States. The island nation has been excluded from most international trade agreements due to pressure from China, which considers Taiwan to be a renegade province.
China has strongly opposed the new trade agreement, warning that it could harm relations between Beijing and Washington. Chinese officials have also accused the United States of interfering in China’s internal affairs by supporting Taiwan.
Despite these objections, the United States has continued to strengthen its ties with Taiwan in recent years. In 2018, the United States passed the Taiwan Travel Act, which encourages high-level visits between US and Taiwanese officials. The move was seen as a significant departure from previous US policy, which had sought to maintain a low profile on the issue of Taiwan.
The new trade agreement is likely to further enhance US-Taiwan relations, particularly in the areas of technology and innovation. Taiwan is home to a number of high-tech companies, including semiconductor manufacturer TSMC and smartphone maker HTC. These companies are expected to benefit from increased access to the US market under the new agreement.
The agreement also includes provisions aimed at promoting sustainable development and protecting the environment. This is seen as an important step forward for both countries, as they seek to address global challenges such as climate change and environmental degradation.
Overall, the signing of the new trade agreement between the United States and Taiwan is a significant development in the ongoing diplomatic and economic relations between the two countries. While China has expressed its opposition to the deal, it is clear that the United States and Taiwan are committed to strengthening their ties and promoting economic growth and prosperity in the region.
